PE Tech Report

Managers

Goldman Sachs Asset Management plans to expand its private credit portfolio to $300bn in five years from the current $130bn, according to a report by Reuters citing Marc Nachmann, Global Head of Asset & Wealth Management at the multinational investment bank. 
Equistone Partners Europe, a European mid-market private equity investor, has joined the United Nations Global Compact, the world’s largest voluntary corporate sustainability initiative with over 24,000 participants across more than 160 countries.
CVC Capital Partners, Europe’s biggest buyout firm with around €188bn in AUM, is reviving its plans for a $15bn-plus Amsterdam stock market listing that could happen as soon as next month, according to a report by Sky News citing unnamed sources.
Keensight Capital, a Paris-based private equity firm focused on European growth buyout investments, has opened a new office in Singapore. 
Stephen Schwarzman, the CEO of the world’s largest private equity firm, Blackstone, earned $896.7m in pay and dividends in 2023, an almost 30% decline from the record $1.26bn he took home in 2022, according to a report by Reuters.
Ares Management’s special opportunities strategy, currently a business within its private equity group, will be joining the firm’s credit group and renamed opportunistic credit.
Optimistic outlook
GPs are more optimistic about the outlook for their businesses than they were 12 months ago with economic uncertainty and recessionary fears having less of an impact than previously anticipated, according to a new report.
Mustafa Siddiqui, a longtime Blackstone executive who has led the firm’s division that invests in other private equity firms since 2020, is to leave as part of a wider reorganisation of the business, according to a report by Bloomberg.
European private equity investor Perwyn has opened its third office in Milan, which will be headed by locally-based Investment Director Maxime Menu and Paris-based Partner Mathieu Antonini, following its opening in Paris in 2021, as part of the firm’s plans to expand its European footprint. 
CVC
Luxembourg-based private equity firm CVC Capital Partners is preparing to make its first big deal in Australia over 14 years after it closed its office there, with the acquisition of struggling employment services provider APM, according to a report by the Australian Financial Review. 

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