Hints and tips:
...“For a lot of LPs [limited partners] that are overallocated to private equity or having liquidity issues, getting cash at hand through secondary sales is a sure thing,” said an executive at a public fund...
...“I would always be cautious about any company that does not have its dividend covered,” said Nate Koppikar, a partner at hedge fund Orso Partners, which has bet against Blackstone shares....
...“We as KKR have a really strong presence in China, but the opportunities have been in the markets that I mentioned.”...
...“I haven’t seen a multi-strat in Ucits format do well. Performance has not been good,” said Patrick Ghali, managing partner at Sussex Partners, which advises clients on fund investments....
...private credit as a mini bridge — [saying] ‘let me put this private credit deal in place and have slightly higher leverage, [but] certainty in place for a period of time, and then maybe in a year or two I’...
...“I think we’re still in the early stages of the recovery phase that will ultimately allow private equity investors to return capital....
...In 2023, private equity groups saw their stockpile of unsold investments surpass a record $3tn....
...“I’ve heard Jon Gray direct, eulogising about him,” said one of the people who had dealings with the private equity executive....
...“My view is that Harvey is somewhere between 100 and 200 times better than I imagined someone could be,” Rubenstein told the FT....
...I’ve been playing a lot lately, I’ve been proper stinky [?!], I‘ve been playing it a tonne....
...“The more I get exposed to private equity, the more that I believe that this is a really crucial part of the overall societal puzzle to get right.”...
...I’d posit an additional possible factor. Universal very much wants to be in the business of The Weeknd, Swift and other stars, and to control as much of their music as possible....
...Carlyle Group chief executive Harvey Schwartz laid out new targets for the private equity firm’s growth and profitability on Wednesday, as the former Goldman Sachs executive seeks to persuade shareholders...
...I mean, sure, private equity dudes care, but should the rest of us?...
...His efforts included a conversation with an unnamed “board member I knew at BI” and approaches to KKR co-founder Henry Kravis, its co-CEO Joseph Bae and Axel Springer’s Döpfner....
...I can’t turn around to the venture team and say invest $2bn. There’s not enough deal flow,” he said....
...The chief investment officer said: “I would be very surprised if in five years the industry hasn’t shrunk by half. The returns aren’t there . . ....
...“I extend my deepest condolences and those of the entire IMO family to the families of those who have lost their lives, and our thoughts are with those who have been injured,” he said in a statement....
...“I told our team, don’t do that,” the managing partner at one large private equity firm said. “It is a real short-term opportunity.”...
...“I’m not desperately enthused at the prospect of having to change but, given the price differential, it’s worth exploring.” An Abrdn spokesperson said: “No decision to change suppliers has been made....
...“I would hope that we do see that, venture firms cutting their fund size and forgiving commitments to their investors and resizing. That would be a really good outcome.”...
...Hedge fund Muddy Waters on Wednesday revealed a bet against a publicly listed real estate investment trust managed by private equity giant Blackstone....
...Unfortunately for him, though, that’s a mere 1.7 per cent of the company’s equity. He’ll need to persuade Disney’s biggest shareholders to vote with him....
...Two decades ago, outright private equity portfolio sales often involved distressed LPs and thus cleared at a significant discount to the NAV....
...He has sought to play down his wealth, telling New York magazine in 2022: “I will own no boats and no planes. I’m not playing golf. I have no sports cars.”...
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