Managers

The Tallahassee-based trust fund has outlined a pacing plan for the next five years.

The fund is one of several first-timers in the market pushing for LP capital at a time when investors are keen to boost exposure to the asset class, including forming new relationships.

The alternatives giant expects to have a 'fully ramped up retail distribution business' in place for the launch of its next private equity flagship, it disclosed on Wednesday.

KKR's fundraising has 'exceeded expectations' and is on track to beat the firm's two-year target of at least $100bn, said CFO Robert Lewin.

Details of COO David Breach's appointment to the role were disclosed in a letter to investors seen by Private Equity International.

MSA received a fundraising boost last year with the appointment Chris Lerner, former head of Asia at placement agent Eaton Partners, as a managing partner.

The buyer would join Singapore's GIC and the Kuwait Investment Authority which acquired part of a 10% stake in the buyout stalwart in 2012.

The $32bn Blackstone Tactical Opportunities was founded in 2011 by veterans of the firm, led by global head David Blitzer and COO Chris James.

LPs in the two older funds have the opportunity to sell their interests at a premium to net asset value.

LPs appear to want to appoint a new manager to keep the portfolio running because the investments have performed well so far.