Side Letter

In today's edition, Fundraising was up in Q3, per preliminary PEI Group data; Why the Fed's rate hike is unlikely to derail private equity dealmaking; A VC manager is back in the market with its sophomore GP stakes vehicle.

In today's edition, A $62bn pension is seeking leverage for liquidity; A sovereign wealth fund's PE allocation falls to a nine-year low – with a catch; Chinese PE activity rebounds.

In today's edition, LPs without VC allocations could be overexposed to the past, says LGT; KKR's Arctos capitalises on GP illiquidity; An IPO bonanza could spell good news for VC exits.

In today's edition, A 'democratisation' expert says GPs will only get one chance to deliver; Blackstone reckons evergreen 'tests' are helpful for the industry; New Mountain wants to deepen its Korea ties.

In today's edition, Private funds managers are facing rising risks from sanctions; PE's distribution drought is altering allocation behaviour; Why wealth managers and PE owners could prove a perfect marriage.

Side Letter will be back on Tuesday. In the meantime: Apollo and Athene battle it out; Chinese LPs are driving CEE fundraising; and new hires for Blackstone Growth and Carlyle. Here’s today's brief, for our valued subscribers only.

Veteran fundraiser and PEI Rainmaker Bob Brown has left the team he formed in 2014, a year after it was acquired by Houlihan Lokey. Here’s today's brief, for our valued subscribers only.