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Private equity led the way in terms of alternative investment fundraising, accounting for 61% of the $740bn of global asset allocations made in in the year ended 31 March 2023, according to a new report by Dasseti and Alternatives Watch.
The 2023 Manager Compendium research report, which covers six asset classes – private equity, venture capital, hedge funds, private credit, real estate and infrastructure – shows no slow-down in capital deployed to alternative investments globally, despite predictions that allocations would plateau or decline in the volatile 2022 and early 2023 inflationary environment.
Credit strategies, including direct lending, distressed and CLO
Venture capital veteran Michael Moritz is quitting as a Partner at Sequoia Capital after 38 years with the firm to focus on Sequoia Heritage, a $15 billion wealth management fund that he helped launch in 2010, according to a report by Reuters.
The report cites a letter sent to limited partners on Wednesday, and seen by Reuters, as confirming Moritz’s departure.
According to the letter, Sequoia Heritage, which focuses on a diversified range of assets, will now be independent from Sequoia Capital.
Moritz is known as a tech-focused investor having been an early backer and long-running board member at both Google
Managers of private equity secondary funds are bullish on deal flow for the remainder of 2023 and have continued appetite for debt, despite soaring interest rates, according to a new research conducted by banking and wealth management group Investec.
US public pensions have increased their exposure to private equity to $622bn, the highest in at least two decades, as part of an overall record $1.6tn investment in alternative assets, according to a report by Bloomberg.
Global private investment firm Carlyle has appointed Lúcia Soares as the firm’s Chief Information Officer and Head of Technology Transformation, effective immediately. She will drive the firm’s global technology strategy and lead the firmwide Global Technology Solutions organisation.
Soares will be focused on building an enterprise-wide technology strategy, including business process transformation, digitalisation, automation, and data innovation. In addition, Bethany De Lude, Carlyle’s Chief Information Security Officer, who leads the firm’s cyber efforts, will now work with Soares to drive a unified firmwide cybersecurity approach for both the firm and its investments.
Soares has over 25 years of experience in
KKA Partners, a Berlin-based private equity firm that invests in DACH based SME companies, and grows enterprises through technology enablement, has closed its second fund with €230 million in external capital commitments.
Funds managed by KKR are to lead a $190m Series C fundraising round in MUSINSA, one of Korea’s leading online fashion marketplaces, with participation from independent investment management firm Wellington Management.
Founded in 2001 as an online leisure shoe community, MUSINSA today features more than 8,000 local and foreign designer brands, as well as an in-house brand (musinsa standard).
This transaction marks KKR’s first technology growth investment in Korea as part of its Asia Next Generation Technology (NGT) strategy, which seeks to support the growth of innovative, disruptive companies in Asia Pacific across key themes, including software, consumer technology and
Nomura Private Capital has appointed Steve Kavulich, a portfolio manager and investment committee member at BlackRock, as the firm’s new Head of Opportunistic Private Credit, based in its New York office.
Davidson Kempner Capital Management has closed its Davidson Kempner Opportunities Fund VI, which will target investments in less liquid, longer-duration situations arising from capital dislocations, motivated sellers, and substantial asset or structural complexity, with $3bn in capital commitments.
The five previous vintages of the fund have collectively invested over $10bn since the strategy’s inception in 2011. The funds are diversified across geographies, industries and investment types, including corporates, real estate, structured products, infrastructure and hard assets.
DK Opportunities Fund VI is co-managed by Yoseloff and Conor Bastable, Managing Member, Global Credit, and is supported by a 113-person credit investing team
Global buyout firm Apollo Global Management is building out a new team to target family offices as its looks to widen its fundraising efforts to include ultra wealthy investors as well as institutions, according to a report by Bloomberg.
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