General Partners

In moving into secondaries, Apollo is joining a host of other big firms that are building out capabilities to take advantage of the rapidly growing market segment.

The deal is one of the high-profile secondaries in the market this year helping to push activity volumes that some expect to reach record highs by year-end.

Assets slated for a secondaries deal periodically get snapped up by outside buyers before the deals can close, a risk that increases the longer such deals linger in the market without closing.

Buyouts has been covering the trend of GPs finding ways to hold certain assets longer than allowed under traditional private equity fund structures.

The partnership between Azimut Alternative Capital Partners and HighPost Capital will include “a capital-raising relationship,” sources told Buyouts.

The deal is leading off a year that many secondary market players expect to be particularly busy with not only GP-led transactions like restructurings but also large, traditional LP portfolio sales.

Feel-good corporate slogans and good intentions are no longer cutting it when it comes to diversity and inclusion in the world of private equity. LPs are pressuring GPs to effect change.

Blackstone joins TPG as the latest high-profile GP to raise a separate fund for GP-led secondaries.

The firm is one of several high-profile GPs using the secondaries market to move assets out of older funds for more time to manage them.

The two large GP-led deals are part of a shift in the secondary market away from traditional sales of fund stakes held by limited partners, to deals by GPs to manage assets held in older funds.