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...The US-based group will make its investment from a $24.4bn fund raised in 2021 that is one of the largest funds dedicated to private equity deals....
...US private equity group General Atlantic has agreed to buy London-based infrastructure fund manager Actis, a combination further underscoring a wave of consolidation gripping private markets....
...Traditional asset managers such as Franklin Templeton, AllianceBernstein and T Rowe Price have been racing to snap up alternative providers, including infrastructure, private equity and private credit funds...
...It comes weeks after smaller rival Baker Tilly agreed a $1bn cash infusion from private equity group Hellman & Friedman to fund an acquisition spree, and is likely to further intensify competition in a sector...
...Last year, it closed its flagship Asia V buyout fund after raising $7.1bn, eclipsing its targets....
...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...
...Private equity buyers see an opportunity that has sometimes played out inside their own firms....
...It has expanded into areas such as invoice financing and credit cards, and acquired a business that connects customers with professional contractors....
...Rashid had been accused of violating his duties to investors in Apollo private equity funds in the early 2010s by billing the funds hundreds of thousands of dollars in improper personal expenses, such as...
...Its three largest private bets, ByteDance, Databricks and Stripe, “should have the opportunity to go public once markets are more accommodating”, Tiger said....
...The reality is that many investors these days like the opacity and artisanal marking of truly private credit funds....
...“For sophisticated investors seeking more direct involvement and control over their investments, direct private credit deals present an enticing opportunity.”...
...That resulted in PE firms having to go to private credit, and they realised that working with a bank involved meaningfully higher execution risk than with a private credit manager....
...Private equity firms must get into the weeds of a business. Hedge funds prefer spreadsheet calculations that they can paste into letters and PowerPoint slides....
...UBS has agreed to sell $8bn worth of loans to private capital group Apollo as part of a renegotiated deal to hive off a Credit Suisse business that securitised loans for assets such as yachts....
...While banks have shown more appetite this year to fund risky transactions, even winning some deals back from private lenders, investors believe US banks will be reluctant to provide the scale of credit they...
...When traditional financial institutions seized up amid monetary tightening and Silicon Valley Bank’s implosion in 2023, private credit funds were the only game in town to fund most deals....
...This has reduced the number of opportunities for private credit funds to lend to companies with a private equity sponsor....
...In a letter sent to its fund investors on Monday, Barings also said that following the departures it was pausing new investments in some of its private credit funds....
...“We have been most active in private equity secondaries given the larger opportunity set but continue to consider opportunities across the private credit and infrastructure spaces,” Christian Dobson, alternatives...
...In a series of 2023 deals, struggling companies that had traditional syndicated term loans coming due found a lifeline in private credit funds....
...Get a private equity fund to finance your bid. That is the route Nasdaq-listed Viavi has chosen to go down....
...There are plenty of opportunities outside the US....
...When the bill comes due, Capital One Financial will need to show it has the funds....
...But capturing the full opportunity of AI-powered security goes beyond the technology itself. I see three key areas where private and public institutions can work together....
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