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...Reits tend to pay out 90 per cent of income but anything over 100 per cent is seen as unsustainable because funds might eventually need to take on more debt, issue new shares or sell assets to fund dividends...
...“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...
...The technology investor plans to roll the assets into a new vehicle common in the private equity industry known as a continuation fund which Lightspeed would continue to manage, the people said....
...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....
...Without existing lenders putting in new cash, portfolio companies need their private equity sponsors to permit them to take money from new sources....
...Many owners face succession challenges or want to raise new capital to finance improvements to their stadiums and surrounding real estate....
...The Fundsmith Equity Fund has not outperformed the MSCI World index since 2020, returning 12.4 per cent last year compared with the index’s 16.8 per cent....
...“I think we’re still in the early stages of the recovery phase that will ultimately allow private equity investors to return capital....
...It plans to raise $300bn in new assets by 2026 among dozens of funds....
...Concord has now secured backing from investors holding 31 per cent of the issued share capital of Hipgnosis....
...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...
...Making private equity-style buyouts available to smaller investors has obvious attractions. It is a new source of funds....
...Rising public equity market valuations and demand from credit funds to make new loans are fuelling a recovery in activity....
...Take Calstrs, the $327bn US pension fund that is one of the world’s biggest backers of private equity....
...Last week, Chicago-based Grant Thornton agreed to sell a majority stake to New Mountain Capital in the sector’s largest deal. Baker Tilly secured a $1bn investment led by H&F in February....
...A resurgence in initial public offerings or sales would allow LPs to recoup their invested capital and recycle it....
...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....
...By 2022, Breit had drawn tens of billions of dollars in new assets, growing into Blackstone’s single largest source of fee growth....
...European investor allocations to environmental, social and governance exchange traded funds slowed down in the first quarter of 2024 as the sector endures an “existential crisis”, Morningstar research shows...
...TLcom, which seeks out early-stage companies, plans to invest chunks of up to $3mn in its second fund. The investment comes as the tech industry around the world has suffered a downturn in funding....
...The market has grown in importance to large private equity groups as institutions that have excess exposure to unlisted investments refrain from committing to new funds....
...Carlyle is raising new funds in Europe and Asia where predecessor funds have also posted net annualised returns of 10 per cent or lower, according to filings, though the funds still have a handful of years...
...Capital raisings, the industry lifeblood for new funds, have dried up....
...Carlyle said it expected to increase fee-based earnings by almost 30 per cent this year to $1.1bn and attract more than $40bn in new investor capital....
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