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...Funds not earning enough to handle dividend payments are often forced to cut payouts....
...“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...
...Terry Smith’s Fundsmith Equity Fund and Nick Train’s WS Lindsell Train UK Equity Fund were hit by redemptions every month in 2023, with annual net outflows totalling £1.4bn and £800mn, respectively, data...
...to LPs about launching its own continuation fund, according to multiple people with knowledge of the deal....
...Hedge funds are challenging private equity firms over restrictions that dictate who can lend to or buy the debt of buyout-backed companies, weighing legal action to capitalise on a surge in corporate distress...
...KKR has raised a record $6.4bn for its latest Asian infrastructure fund, capping a month of frenzied investment activity in the sector at a time when broader private equity fundraising has slowed....
...sell a majority stake to private equity investors....
...Wealthy individual investors also poured more than $8bn into Blackstone’s funds, including $2.7bn for a recently launched private equity fund targeting so-called retail investors....
...Making private equity-style buyouts available to smaller investors has obvious attractions. It is a new source of funds....
...Blackstone has won the backing of Hipgnosis Songs Fund’s board as the US private equity group seeks to derail Concord Chorus’s proposed $1.4bn takeover of the UK-listed music rights investment company Blackstone...
...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....
...“It creates an equity culture so that partners are focused on how to grow the equity value of the business and not just their own individual book of business.”...
...The initial sum raised by the fund, called Blackstone Private Equity Strategies Fund, or BXPE, is Blackstone’s largest ever for a retail vehicle....
...Rival funds from Starwood and KKR continued to limit investor withdrawals as of January, according to public filings....
...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....
...The fate of the heavily indebted former state monopoly rests on the sale of its landline network to private equity group KKR for up to €22bn....
...After leaving Goldman Sachs, he worked at hedge funds the Children’s Investment Fund and Theleme Partners....
...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...
...Blackstone’s flagship private equity and related funds have deployed hundreds of billions of dollars since its 1980s founding....
...It is a similar strategy to how traditional private equity deals are financed — put up just a portion of the cash to fund a deal, and borrow the rest....
...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...
...Blackstone marked down its property funds by more than 3 per cent during the fourth quarter, causing the group to miss out on some valuable fees it usually collects from the funds....
...Some rivals, such as KKR and Apollo Global, by contrast have more stable dividend policies and retain some of their profits to fund future expansion....
...Since taking the helm at Carlyle earlier this year, Schwartz has focused on growing its credit and insurance-related investment assets, debt and equity underwriting operations, and funds designed for wealthy...
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