Managers

A key aspect of the firm's strategy is a concentration on B2B software dealflow outside of Silicon Valley and other traditional tech hubs.

'We’ll have more diversified co-investment opportunities this way rather than us just doubling down on what our existing GPs come to us with,' says Arizona’s chief investment officer Michael Viteri.

Ares will provide the Brazilian investment firm with guidance on investment strategy, investor relations and business operations.

“Nothing the managers said today gave me any confidence that we’re going to get distributions to the level of NAV they’ve marked on their portfolios,” says Marin County board president Sara Klein.

Until some of the more inefficient aspects of the continuation fund process are smoothed out, these deals are not likely to become routine exit options alongside IPOs and strategic sales.

For growth equity shops with capital on hand, there are presently value opportunities in a less competitive environment.

Strategic Partners, formed in 2000, has grown rapidly since its acquisition by Blackstone into one of the largest secondaries buyers in the market.

For many firms, fundraising timelines have extended to 18 months or even two years, reversing the speed of fundraising in 2021 and early 2022.

The firm also hired Tom Moore, formerly with Cerberus Capital Management, as a senior associate.

Growth investor gathers $17.3bn against a $16bn target for its 14th Global Growth Fund, with more than 15% of capital from high-net-wealth investors.