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Blackstone is on the brink of becoming the first ever private equity firm to have over $1tn in assets under management, with analysts expecting the firm to pass that milestone when it reports its latest quarterly results on Thursday, according to a report by business Standard.
Angelo Gordon, a $73bn alternative investment firm focused on credit and real estate investing, has held the final close of the AG Asset Based Credit Fund with over $1bn of equity commitments, exceeding its $800m target.
Buyout firm Thomas H Lee Partners has agreed a deal to acquire a majority stake in US-based fund administrator Standish Management that values the business at around $1.6bn, including debt, according to a report by Reuters.
Fremman Capital has held the the final closing of its debut fund, Fremman I MM and accompanying separately managed account, with over €600m in capital commitments, making it one of the largest first-time pan-European buyout fund raised since 2020.
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.
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