Hints and tips:
...“There’s an opportunity to consolidate the industry.”...
...Last year, it acquired a footprint in credit investments by purchasing Iron Park....
...The trust will use a portion of the funds to buy a minority stake in the firm from existing partners, the people said....
...A month later the New York-based firm said it had acquired private credit firm Iron Park, a business set up by Tripp Smith, a former Blackstone credit executive....
...HPS Investment Partners has raised $12bn for a new junior credit fund, pushing the private credit firm’s assets under management to nearly $100bn as it becomes an increasingly formidable player across debt...
...The push will also put Oaktree more squarely in competition with large private credit investors such as Apollo Global Management, Sixth Street Partners, HPS Investment Partners and Blackstone....
...Private credit funds stepped into the gap, writing multibillion-dollar loans to companies including Norwegian online classifieds company Adevinta and software maker New Relic, and providing money at a time...
...Its three largest private bets, ByteDance, Databricks and Stripe, “should have the opportunity to go public once markets are more accommodating”, Tiger said....
...As big cloud computing vendors, Microsoft, Amazon and Google have also thrown in computing credits instead of cash in some cases....
...The new conditions will test industry giants such as Blackstone and Carlyle, and dozens of fast-growing firms including Thoma Bravo, Vista Equity Partners and Platinum Equity, which have seen their assets...
...But Hintze, a prominent philanthropist and Conservative party donor who was given a peerage late last year, will go his own way, spinning out the $1.5bn flagship Directional Opportunities hedge fund and...
...The New York-based firm has just raised $17.3bn, the largest fund in its 57-year history, joining a handful of established players such as Clayton, Dubilier & Rice, GTCR, CVC Capital Partners and TA Associates...
...equity, macro and rates, and credit divisions....
...What we have tried to build is not a single fund, is not a single opportunity, we’ve tried to build an ecosystem....
...A number of once-small US-based buyout groups such as Vista, Thoma Bravo, Platinum Equity, HIG Capital, Insight Partners and Clearlake Capital expanded rapidly but now face their first financial downturn...
...Though credit opportunities are on the rise, Briger warned that some rivals expanded too quickly in a low-rate environment....
...to its funds....
...partners....
...Fortress’s private equity business has not raised a new buyout fund since the crisis. Its credit arm, overseen by Briger, has grown, though not as fast as those of rivals such as Blackstone....
...Grew played a central role in Man’s turnround and recovery following its acquisition of GLG Partners for $1.6bn in 2010....
...Morgan Stanley led a $1bn credit facility for Blackstone’s $4.6bn acquisition of Cvent, which is majority owned by Vista Equity Partners....
...“There are no domestic equity investors here — everything else is a symptom,” says Michael Tory, founder of advisory firm Ondra Partners....
...As investors manage exposure to traditional private equity funds, it has spotted an opportunity it can’t pass up....
...Insight Partners, a venture capital and private equity firm, is seeking $12bn for the newest fund in its flagship strategy this year, according to one person familiar with the plans....
...Investors including Goldman Sachs Asset Management, Partners Group and Pantheon have said there is an opportunity to capitalise on this repositioning and buy cut-price assets from UK pension funds....
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