Managers

Oceanpine targets growth equity investments in green tech, advanced tech, and healthcare assets in China and overseas.

Newbies need all the help they can get to wrench capital from hesitant LPs. ‘Seeded portfolios’ and other strategies are in play.

After a blurring of the lines with venture and buyout strategies, market conditions are bringing greater clarity to growth capital.

The system ranks as one of the largest allocators by percentage to PE, even after it sold a portion of its portfolio last year.

Some firms continue to push through parallel pools outside of the flagship strategy despite constrained LPs who are juggling overexposure to the asset class and dwindling distributions.

Speaking at the HKVCA’s China Private Equity Summit on Tuesday, the firm’s head of private and growth equity in APAC said she spends more time in the Middle East and Southeast Asia when fundraising.

If bids come in at a steep discount, some LPs are ready to use that data point to question other VCs invested in the same assets about their valuations and why they are not writing them down.

The flagship is already the biggest in Platinum’s almost three-decade history, with the amount raised to date just surpassing the $10bn brought in by Fund V in 2019.

Some 149 North American private equity vehicles were wrapped up during this period, down 49% from a year earlier. Compared with Q4 2022, closings dropped by 9%.

Consultant NEPC expresses some concerns about the manager’s GP-led secondaries and lower-mid-market strategies.