North America

The $173bn institution is offloading PE stakes via secondaries as it looks to deploy more capital into directs, global PE head Jim Pittman tells PEI.

I take it that the side letter ask has gotten no less burdensome over the years, and any sort of relief, even one imposed by the SEC, could be viewed as a welcome change by GPs.

'The opportunity set in growth equity investing has gotten much more interesting,' CFO Jack Weingart said in a Q2 earnings call.

For many private company owners, 'covid took the wind out of their sails and the fun out of running their businesses. They are ready to move on'.

In the equity business, this year has marked the end of an era, chief executive Marc Rowan said on the firm's latest earnings call.

CCMP’s succession process occurred last year and the new shop has completed two investments with capital sourced from investors.

Investors in the new funds include California Public Employees' Retirement System, New Mexico State Investment Council, Alaska Permanent Fund and the Fire and Police Pension Association of Colorado

Luo, who specializes in enterprise software and fintech, joined the firm in 2018 and was made a principal in 2021.

The Canadian giant, which has invested $3bn in value-based assets through its Special Investments strategy, is in the market with its sophomore offering.

$1trn in AUM and a $29bn raise are bright spots amid a mixed picture for the market.