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GCM Grosvenor has secured $1.2bn for its first dedicated strategy focused on private credit secondaries, as growing demand for liquidity creates new opportunities in the expanding private credit market, according to a report by Bloomberg.
Blackstone’s assets under management climbed to $1.35tn in the second quarter as strong fundraising and gains from artificial intelligence-related investments helped the alternative asset manager outperform earnings expectations, according to a report by Reuters.
Cerberus Capital Management is relocating managing director Rahul Sangwan from London to Mumbai to lead its operations in India, as the alternative investment firm expands its focus on the country’s growing private credit market, according to a report by Bloomberg.
Private market managers and wealth advisers are reconsidering how they describe funds offering periodic access to private credit and private equity after a wave of redemption requests exposed the limits of their liquidity provisions, according to a report by Bloomberg.
Hellman & Friedman and Valeas Capital Partners are exploring a potential dividend recapitalisation that could return as much as $1bn to the private equity owners of accounting and advisory firm Baker Tilly, according to a report by Bloomberg citing unnamed people familiar with the matter.
Partners Group has raised more than $5.5bn for its latest infrastructure secondaries programme – a $1.7bn closed-ended fund, alongside bespoke mandates and co-investment vehicles – making it one of the largest dedicated fundraises in the sector to date.
Blackstone has reported a slowdown in redemption requests from investors in its flagship private credit vehicle, although fundraising into the fund has weakened significantly amid concerns over potential losses in parts of the private lending market, according to a report by the Financial Times.
A planned European Union review of airline ownership rules could create additional hurdles for US private equity firms seeking to acquire control of easyJet, as Brussels looks to tighten scrutiny of arrangements that could give non-European investors effective control of regional carriers, according to a report by Reuters.
Growing liquidity pressures in private credit funds are creating an opening for a new generation of secondary investors, which can provide managers with an alternative source of cash as investors seek to exit, according top a report by the Financial Times.
Blackstone is partnering with Vanguard and Wellington Management to launch two new funds giving individual investors access to portfolios combining public and private assets, according to a report by the Wall Street Journal.
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