US

The music copyrights-focused PE firm is expanding its investment strategy with its fourth flagship vehicle.

For private equity, the closure of the IPO window cuts off one of the main exit paths for portfolio companies.

Overall, fundraising has slowed mightily from last year. In the first half, 417 buyout, growth, venture and other private equity vehicles raised almost $255bn.

'Private markets will ultimately follow the lead of public markets,' senior managing director Sachin Bavishi said. 'It creates an interesting environment for us, an environment that for deploying capital is more favorable than it was in 2021.'

Single-asset deals remain a popular way for GPs to deliver liquidity back to LPs in older funds without having to fully exit an investment.

Recently released first-half secondaries deal volume surveys show that, despite uncertainty and volatility in the broader economy, secondaries activity remains robust.

Valuations are holding steady as marks are starting to roll in.

Big financial institutions are increasingly looking for ways to expand into secondaries advisory to help meet the demand of the growing market.

'We are currently seeing strong support from both existing and new institutional investors, especially from outside the United States,' co-president Jim Zelter said in the Q2 earnings call.