GP stakes

North American GPs accounted for 89% of Petershill Partners' invested capital as of end-December, with the remainder in Europe, according to its maiden full-year earnings.

Iron Park Capital, founded in 2019 by GSO co-founder Tripp Smith, is seeking up to $5bn for its second private credit joint venture, Private Equity International understands.

Ascentium founder and former Credit Suisse boss James Lee will become head of Blue Owl’s institutional sales team in Asia, per a statement seen exclusively by PEI.

The GP stakes firm plans to deploy as much as $300m each year using the company’s own money, leverage and proceeds from the planned $5bn listing.

The buyer would join Singapore's GIC and the Kuwait Investment Authority which acquired part of a 10% stake in the buyout stalwart in 2012.

Investcorp’s team focuses on mid-market GPs, which it believes presents a more robust opportunity than the larger side of the market.

The European private equity stalwart picked Blackstone as a minority shareholder also for the soft benefits that it brings.

With Blackstone’s stake in BC Partners the latest deal in an expanding market of GP stakes, PEI looks at which firms have been on the acquisition trail.

The investment bank invested through its $1.4bn North Haven Tactical Value fund, which closed in December.

Compressed exit multiples could have a material impact on performance fee income, according to tech platform Cobalt.