Jordan Stutts
Strong private equity returns helped to offset negative performance in public equities, leaving the Canadian pension fund with a 2.3% overall return.
The risks of sharing a blind pool where the sovereign wealth fund plays such an outsized role are being thrown into sharp relief.
Two LPs who committed to the $40bn vehicle said they are monitoring the situation involving a journalist's disappearance and the questions surrounding Saudi Arabia's potential involvement.
One investor said the original rate was ‘just not a standard hurdle’.
Despite a clear need and high growth potential, investors have not backed the energy storage sector in large numbers, partly due to a lack of standardised contracts, finds Jordan Stutts.
Co-founder Joshua Harris will target sectors where he can get an ‘excess return’.
.jpg?id=12885365783 "Blackstone eyes early 2018 first close for $40bn infra fund")
The vehicle will be open-ended, target core and core-plus assets and collect fees based on net asset value.
The firm’s Petershill fund made its second investment this year in energy-focused Riverstone Holdings.
The $128bn pension manager said the greater adoption of the direct investment model globally is making the market much more competitive.
.jpg "Schwarzman: Infra is a trillion-dollar ‘super big deal’")
There’s political consensus that US infrastructure needs significant investment, and privatisation is one way to accomplish this, the Blackstone Group’s chief executive said.