Five years after the US power company's $17bn take-private, the energy-focused firm is rolling about 20% of the existing LPs into a single-asset vehicle.
There is a universe of potential deals in asset classes such as infrastructure not suited to typical secondaries funds, says Daniel Roddick, founder of Ely Place Partners.
Blackstone’s Mileway deal is further evidence liquidity doesn’t have to come from the secondaries market – and that’s not necessarily a bad thing.