Wafra

Featherlight Capital counts ex-Wafra, La Caisse and Power Sustainable investors among its investment team.

LPs want exposure to the mid-market, where there is differentiated alpha with many levers and ways to win, Adel Alderbas tells Private Equity International.

Covalent, and which aims to pool LP resources, will focus on mid-market buyouts and growth equity financings in North America and Europe, according to Wafra's Steve Moseley and AP3's Henrik Nordlander.

The pair are taking equal stakes in the mid-market-focused investment firm in a Houlihan Lokey-advised transaction.

Constellation Generation IV targets growth equity for private alternative asset management firms.

Talent outflows are putting LPs in a difficult position at a time when having a sufficient number of experienced staff has become more important than ever.

Steve Moseley has returned to New York to focus on GP stakes, emerging managers and a new co-investment joint venture for LPs.

Institutional investors are voicing an interest in stepping outside the familiar fund structure to invest directly in GPs. The move could change the GP stakes market and create a new class of shareholders.

In an active market, GP stakes investors are differentiating themselves by homing in on private markets firms of particular sizes.

A diversifying LP base is emerging as the GP stakes universe matures.