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...or a return of investor capital that would “result in us having less funds available to acquire properties or other real estate-related investments”....
...Continuation funds can also be controversial with LPs, because they have to decide whether to lock up capital with a VC for another lengthy period or cash out potentially at a discount....
...KKR has made 10 investments so far from the new fund, deploying more than half of the capital across energy, digital infrastructure and manufacturing assets....
...Law firm Pallas, which counts some of the hedge fund industry’s best-known names among its clients, told the Financial Times that it was exploring a legal challenge to the practice....
...After resigning in 2016, former prime minister and now foreign secretary David Cameron went to work for finance group Greensill Capital, and also tried (but failed) to set up a $1bn UK-China investment fund...
...Concord has now secured backing from investors holding 31 per cent of the issued share capital of Hipgnosis....
...That deal has already been backed by about 29 per cent of Hipgnosis’ issued share capital. Hipgnosis’ music portfolio includes artists such as the Red Hot Chili Peppers and Shakira....
...“I think we’re still in the early stages of the recovery phase that will ultimately allow private equity investors to return capital....
...With a shareholder vote set for April 3, Disney faces proxy fights with Peltz’s Trian Partners and Blackwells Capital, which are seeking board seats and other changes aimed at boosting the company’s share...
...It is now attempting to navigate the twists and turns towards retail capital. The latest effort is the semi-liquid buyout fund....
...The influx of private equity and sovereign wealth fund investment in sports has also contributed to the appreciation of sports companies as an asset class....
...A resurgence in initial public offerings or sales would allow LPs to recoup their invested capital and recycle it....
...But as the fund lost value last year, Blackstone’s liability to UC has grown to $560mn....
...“The declining cost of capital with rates coming down and spreads coming down for real estate borrowing is very helpful.” *This story has been changed to correct the percentage figure...
...KKR’s funds plan to house assets moving off the balance sheets of corporations, banks and insurers looking to simplify their operations or fund stock buybacks....
...The private capital titan claimed prescience both in sensing higher inflation in 2021 and subsequent easing of price levels in 2023....
...And in the past year, there have been multiple signs of froth: BlackRock reckons that private funds are sitting on $4tn of capital (aka “dry powder”) they have been unable to deploy; funds are shuffling...
...The figures suggest that top managers prioritise careful deployment of investors’ capital, rather than making the fund as large as possible....
...Private assets offer higher returns in part because fund managers need the benefit of more permanent capital that cannot easily flee during the deployment phase....
...However, Rokos Capital Management, run by former Brevan Howard co-founder Chris Rokos, ended 2023 up 8.8 per cent....
...“Firms desperately need capital to transform the business,” he said....
...But the direct lending funds they manage may begin to post lower returns, investors said....
...The hedge fund manager getting all the attention, of course, is Nelson Peltz, the octogenarian co-founder of Trian Fund Management....
...Hedge fund Cyrus Capital will meanwhile convert a loan made to Esken into equity, picking up the company’s new minority stake in the airport, which is located 36 miles east of central London....
...Most VCs continue to charge LPs a management fee regardless of whether they had made investments, but Sequoia Capital, one the premier tech VC groups, started waiving fees on capital it had not yet committed...
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