Managers

The decision comes as limited partners like PSERS are contending with a flood of managers coming back at quick pace for more capital into larger funds and even new products.

HOOPP has increasingly focused on direct and co-investments as a way to generate better returns net of fees and carry.

Värde – which means “value” in Swedish – has a flagship strategy focused on searching opportunistically for complex situations in less efficient markets where there is an imbalance in capital supply and demand.

The GP-led market has exploded since the pandemic as GPs look to hold certain businesses longer than allowed under the terms of traditional PE funds.

The strength of a new firm’s debut fund helps dictate exactly whether the organization will continue to grow into the future or slowly wither, with its ability to raise new capital stifled.

The PE giant is bullish on an M&A surge in 2022, with bilateral deals deemed the safer route as investors flee high-risk public listings.

As secondaries has exploded in popularity over the past few years (reaching a record volume level last year of about $130bn), the growth of the talent pool has not kept up.

OMERS also promoted Geoff Bird to head of business services and Mark Van Wart to head of healthcare and hired Lane McDonald, formerly with Partners Group, as managing director, operations.

While private equity is sitting on high levels of unspent capital, firms may find they have to hold assets longer than anticipated to wait out some of the economic flare-ups.

Distress opportunities could open up in the months ahead as inflation, rate hikes and geopolitical disturbances – above all, the war in Ukraine – create more economic uncertainty.