Kirk Falconer

The flagship fund, targeting $12.5bn with a $15bn hard-cap, is expected to hold a final close in the early months of 2025, sources say.

In taking over from Suyi Kim, Gubbels will become CPP Investments’ second consecutive female private equity head.

The firm raised $68bn in Q2, bringing inflows over the past 12 months to $140bn, Brookfield’s highest ever in a 12-month period.

With the raise, the flagship is the biggest in Platinum’s 29-year history, exceeding by 26% its 2019-vintage predecessor.

At its new total, Blackstone Capital Partners IX could be only several months away from wrapping up.

The fund's predecessor, PPC III, closed in 2021 at $2.7bn, was then billed as one of the market’s largest family investment vehicles.

Deal activity in professional sports 'presents unique risks and challenges that differ from traditional investments', according to Deloitte.

If the NFL throws out the welcome mat to private equity, it would be following in the footsteps of other Northern American leagues.

Blue Owl also held a first close of about $600m for a new mid-cap GP stakes fund, $500m of which was seed capital provided by partner Lunate, sources told affiliate title Buyouts.

The alts giant recorded $8bn of capital from private wealth, including $2.7bn for its private equity strategy targeting individual investors.