Manager strategy

By appealing to retail and large institutional investors, mega-managers may end up with the lion’s share of capital, with implications for themselves and their investors, writes Cambridge Associates’ Andrea Auerbach.

Competition for capital is fierce, but new firm formation is poised to continue nonetheless.

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

The firm appointed Benjamin Cordonnier as CEO and co-managing partner, and Judith Charpentier as co-managing partner in May.

Strategic sales accounted for 26% of all private equity exit transactions recorded between January and June.

Optimising exits in an environment where liquidity is challenging has become a mainstay in some managers’ playbooks.

The Pittsburgh-based investor wants to have at least half of its private equity portfolio in the US, up from about 40% today.

Public market volatility stemming from uncertainty around the imposition of US tariffs could create carve-out opportunities in some regions.

The asset manager, which has a $21bn private equity portfolio, was 'too little bullish' on the US over the last decade, global PE head Rainer Ender tells PEI.

The fund of funds specialist's next Opportunity fund may include an ex-China sidecar to reflect shifting LP appetites, managing partner Alex Sao Wei Lee tells PEI.