North America

How will emerging managers fare in a consolidating market?

Competition for capital is fierce, but new firm formation is poised to continue nonetheless.

Creating the one-stop-shops of the future

Private markets M&A continues to gather pace as asset management mega-platforms attempt to meet all their investors’ needs.

Industry consolidation: New investor classes drive acquisitions and partnerships

The top force fuelling M&A among private markets managers is the ambition to become as relevant to private wealth and insurance money tomorrow as institutional capital today.

Dawson’s sixth flagship closes on $7bn hard-cap, surpassing target

The oversubscribed vehicle adds to an already lucrative, record-breaking fundraising year for secondaries.

Blackstone reiterates expectations for ‘first major close’ on PE flagship in Q4

Strategic Partners Fund X is seeking $22.5bn, documents prepared for a US pension’s meeting this week show.

Secondaries becoming an ‘all weather’ strategy – RCP Advisors

The small buyout specialist’s latest secondaries vehicle surpassed its $1bn target and will invest in both LP- and GP-leds.

Industry Ventures founder: VC secondaries volume to top $120bn this year

Hans Swildens weighs in on Industry’s sale to Goldman Sachs, who the most active sellers in the venture secondaries market are, the current NAV discount for venture assets and more.

Asset quality trumps discounts for ICG, StepStone

Speaking at the CAIS Alternative Investment Summit last week, executives from both firms agreed asset quality has become a more important driver of returns.

LACERS, long on the sidelines, prepares to enter secondaries

LACERS CIO Rodney June: ‘The opportunity set has grown’ in private equity secondaries market as $26bn pension eyes potential participation.

Lexington’s Warren: Secondaries still only ‘a drop in the bucket’ for LPs’ liquidity needs

Unrealised NAV sitting in PE funds will ‘get bigger over the next five years before it shrinks’, according to the firm’s president Wil Warren.