Restructuring

Short-term and increasingly passive public markets aren’t always the right fit for major transformations, particularly those being driven by trends such as decarbonisation and AI.

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.

With the addition of Oaktree, a respected credit business, Brookfield has shown how debt investing has risen to prominence post-global financial crisis and become crucial for being a global diversified asset manager.

The transaction involves six assets acquired on a deal-by-deal basis since 2012 including Danish luxury brand Georg Jensen.

The Deutsche Bank spin-out has led a consortium comprising Blackstone, Hamilton Lane and GCM Grosvenor that backed a deal involving six of Argonne Capital's assets.

The potential deal involves the Scandinavian private equity firm's 2008-vintage fund which has around €2bn in NAV.

The UK's second-biggest private equity firm is working on a plan to roll over existing assets into a new 5-year vehicle, according to sister publication Secondaries Investor.

Nigel Dawn, from advisor Evercore, discusses some of the ways in which GPs can strategically access the secondaries market to actively manage their portfolio, accelerate liquidity for their investors while maximising the value of their portfolio companies.