Strategic Partners grows real assets SMA

Strategic Partners has a $500 million separate account for real assets secondaries, including infrastructure and energy.

Strategic Partners grew its real assets separately managed account to more than $500 million during the first quarter, according to The Blackstone Group’s first quarter earnings report.

Strategic Partners declined to comment beyond the report.

It is understood the firm has a separate account with a single investor, which has continued to upsize its exposure to the fund since the third quarter last year.

Strategic Partners has been investing in real assets secondaries since 2001. Its strategy includes buying limited partnership interests in energy and infrastructure funds.

Some secondaries buyers find it easier to price and deploy capital in infrastructure secondaries. A recent survey conducted by Evercore revealed 41 percent of buyers are capable of pricing and investing in infrastructure secondaries, compared to 27 percent of buyers, which can price real estate secondaries.