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BlackRock has reorganised its team as it pushes ahead with fundraising following the departure of three MDs to Apollo last month.
fundraising
Ares Management's private equity secondaries product, managed by the Landmark Partners team, has suffered key departures in the past year.
Blackstone is on track to reach $20bn for its latest flagship secondaries fund, having nearly achieved its target in the space of a quarter.
The GP with $9.3bn in private equity assets under management is looking at ways to hold on to 'champions' for longer, according to CEO Alex Saigh.
Fund IX has benefited from the strong performance of private equity pushing many LPs close to their allocation limits, COO Jon Gray said on an earnings call.
crowd
The fund targeted at non-institutional investors can invest in the full range of secondaries deals and on a primary and direct basis.
blue owl bird night watching
The funds will complement the GP stakes business, which co-president Michael Rees called 'one of the most underpenetrated spaces in all of alternatives'.
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The supply of GP-led deals should continue to outstrip demand as more sponsors try to keep their best assets for longer, according to chief executive Mario Giannini.
piece of pie
Ares Management's agreement to buy Landmark Partners could be the latest in a chain of consolidation moves in the secondaries industry. We examine the ownership of firms that comprise our SI 30 ranking to see who might be next.
Apollo
Apollo's deep knowledge of underlying credit investments is the 'real secret sauce' in a secondaries business, CEO Marc Rowan says on the firm's latest earnings call.
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