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Side Letter: PE's pivot to beta; Chicago gets hands-on; Carlyle's comp tweakGPs of the future might need to develop a passive offering to capitalise on the shift from DB to DC pension schemes. Plus: Chicago Teachers is on the hunt for emerging markets funds and Carlyle is tying CEO compensation to its diversity efforts. Here's today's brief, for our valued subscribers only.
Side Letter: Pension giant's sub line woes; DE&I heads online; Hillhouse eyes $18bnA UK pension giant is becoming frustrated over subscription credit lines and their impact on deployment pacing. Plus: Hillhouse said to be nearing an $18 billion close and why online fundraising platforms could help solve PE's DE&I problem. Here's today's brief, for our valued subscribers only.
Carlyle reports blockbuster Q1The firm reported $6.4bn of realised proceeds in the first quarter, driven by exit activity in its Europe, Asia and US buyout funds, as well as AlpInvest and financial services, according to its earnings results on Thursday.
Side Letter: KKR welcomes ESG regs; Neuberger's impact milestone; Carlyle's mega-fundKKR's co-head of global impact says the firm has identified five future ESG challenges for which it would welcome regulation. Plus: Neuberger Berman has closed its debut impact vehicle and Carlyle has another mega-fund on the way. Here's today's brief, for our valued subscribers only.
Side Letter: Leonard Green's mega-GP-led; another OMERS PE departureLeonard Green & Partners has closed one of the largest GP-led deals ever. Plus: Highlights from yesterday's AVCA conference and another departure from OMERS PE. Here's today's brief, for our valued subscribers only.
Side Letter: April issue out; General Atlantic's $5bn; another Citi hireIt's the cusp of the Easter long weekend for some and like many, Side Letter is looking forward to a break from Zoom-call City. We'll be back on Tuesday – in the meantime here's today's brief, for our valued subscribers only.
Side Letter: Actis pivots from PE to hard assets; GP-leds hiring spree; sharia-compliant PEActis has shifted its financial services team amid a wider move towards hard assets. Plus: the search for secondaries talent is heating up thanks to GP-leds and Partners Group explains how PE can become sharia-compliant. Here's today's brief, for our valued subscribers only.
Three things to note about Carlyle's 2021-24 strategic planThe alternatives giant has a $130bn multi-year fundraising goal as well as near-term plans to expand its private credit and insurance businesses.
Side Letter: Carlyle's ESG facility, Dyal's Vista stake, Apollo's retail therapyCarlyle Group has married PE's diversity push to the industry's growing penchant for ESG-linked credit lines. Plus: Vista Equity is reportedly in talks over the sale of Dyal's GP stake and CalSTRS is taking the climate crisis into its own hands. Here's today's brief, for our valued subscribers only.
Side Letter: Carried interest under fire, Dyal's credit conundrumA group of Democrats is pushing for carried interest reform in the US. Plus: Why not all of Dyal's portfolio GPs might be happy about its Owl Rock tie-up; and how NAV facilities transitioned from niche to mainstream. Here's today's brief, for our valued subscribers only.