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...The deficit underscores risks for tens of thousands of individual investors who have ploughed money into the unlisted property fund, Blackstone’s first product for wealthy retail investors....
...Led by pension funds and endowments, big investors sold 99 per cent of their private equity holdings at or below their net asset value on the secondary market last year, according to Jefferies, the most...
...to LPs about launching its own continuation fund, according to multiple people with knowledge of the deal....
...Investors in KKR’s fund were “evenly split across Asia, the Middle East, Europe and North America”, Luboff said....
...It plans to raise $300bn in new assets by 2026 among dozens of funds....
...Concord, which is controlled by investor Alchemy Copyrights and is ultimately majority owned by US pension fund Michigan Retirement, has been an acquirer of music rights and companies....
...This led shareholders to decide against the continuance of the fund in a vote last year, sparking a strategic review by a new board and ultimately Thursday’s agreement to sell the fund to US rival Concord...
...Blackwells issued a presentation this week estimating that ValueAct, which has been a supportive investor of Disney, has made up to an estimated $95mn in fees from managing pension funds of company employees...
...Some three-quarters of these retail shareholders voted for Disney’s nominees, said a person familiar with the matter....
...It’s just a matter of time,” he added. In 2023, private equity groups saw their stockpile of unsold investments surpass a record $3tn....
...As of October 2023, 4,000 funds were on the road, looking for an aggregate of $1.2tn according to Preqin. Institutional investors, especially in the US, have over-allocated to this asset class....
...Norges Bank Investment Management, which runs the world’s biggest sovereign wealth fund and is a top-10 shareholder in Disney, is backing the board....
...The fund received $961mn in redemptions in February, roughly 15 per cent below its monthly limit, Blackstone said.* In the summer of 2022, investors began pulling their money, with a wave of redemptions...
...Walt Disney has won the support of investor ValueAct Capital, as the entertainment company gears up for a fight with activist Nelson Peltz over how to boost profits and lift its share price....
...“I think we’re still in the early stages of the recovery phase that will ultimately allow private equity investors to return capital....
...But the direct lending funds they manage may begin to post lower returns, investors said....
...Gruenberg, one of three Democratic board members, is pushing a broader proposal that would capture a bigger swath of investors, according to three people familiar with the matter....
...Charles said the firm’s recent fundraising was a sign of strong appetite among institutional investors, including insurers, pensions funds and family offices, to put money into the sector....
...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....
...But some analysts and hedge funds are sceptical about how much further the business can expand, while questioning the quality of its reports to investors....
...KKR, an early investor in music royalties, has not bought music for at least a year, according to a person familiar with the matter....
...Dundee will be looking for other family offices, and perhaps even sovereign wealth funds, to put money into the vehicle, according to people familiar with the matter....
...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....
...Blackstone owes the University of California twice as much as it did last quarter as part of a complex transaction to shore up its flagship real estate fund....
...s investment funds as part of the cost-cutting effort....
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