GP stakes

Ares is the latest manager to raise a fund dedicated to providing structured products to GPs.

Blue Owl has acquired a passive stake in the tail-end specialist, which will ‘ultimately represent’ approximately 25% of the economic interests of the firm.

The Keystone strategy is expected to remain relevant across fundraising cycles, says managing partner Ian Charles and partner Charlie Tingue.

Our inaugural survey takes the temperature of LP, GP, buyer and provider attitudes towards this fast-growing market.

Secondaries Investor’s inaugural survey of LPs, secondaries buyers, GPs and advisers offers a complete view of the market and the direction it’s heading in. Conducted in partnership with Goodwin.

GP-led secondaries would appear to provide an obvious route to liquidity for staking investors but there are some issues to iron out.

The semi-liquid fund will participate in GP stakes investments through a wide range of transaction types, with the largest share earmarked for secondaries investments.

As more high-profile secondaries managers get snapped up, there is a ‘scarcity value’ in the strategy, managing director Hannah Gore-Randall tells Secondaries Investor.

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

While there is growing demand for liquidity in the GP stakes market, significant structural barriers keep capital locked up.