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Sean Gallary, who left The Carlyle Group unit last year, has launched Stonyrock Partners with a former BAAM managing director.
Houlihan Lokey’s Jeff Hammer says that while there is a broad base of potential actors, that loans are repaid over a given period or refinanced likely constrains the size of the market.
Ardian has become the latest private markets firm to open an office in a country whose institutional investors are hungry for private markets.
More private fund managers that oversee closed-end funds are selling portions of their firm to finance product growth, succession or larger GP commitments.
Landmark had used a preferred equity structure to finance a deal last year involving Reservoir Capital Partners.
Shane Feeney will be responsible for the Canadian pension’s $51bn private equity portfolio overseeing direct private equity investments, funds, secondaries and co-investments.
The fund can issue debt or preferred equity and buy fund stakes on the secondaries market, documents from a US pension show.
The $8.7bn southern Californian pension has sizeable commitments with SL Capital Partners, Partners Group and Industry Ventures.
The plans may include designing a metric to determine the US's largest public pension’s exposure on a total fund level.