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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.
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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.
blackstone
The Blackstone unit, run by global head Verdun Perry, is expected to hold its first close in H2 for Strategic Partners Fund IX.
The $197bn private credit and private equity giant follows TPG and Brookfield in looking to gain exposure to the rapidly growing secondaries market.
The listed alternatives giant hired two Partners Groups executives last year to help launch the effort, which could grow to a $50bn business overall for the firm.
fundraising
The secondaries firm expects to match or exceed previous fundraising cycles despite the impact of covid-19, according to the chief executive of parent company BrightSphere.
CEO Kewsong Lee says there was a ‘huge cross sell’ between AlpInvest and the rest of Carlyle, with more than 40% of LPs invested in both.
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Last week, Newbury Partners sold a position to GP stakes fund RidgeLake Partners. We looked at the ownership of firms that comprise our SI 30 ranking to see who might be next.
new hire
The firm manages FlowStone Opportunity Fund, which is targeted at high-net-worth individuals.
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