Buyout

For many fund managers, 2023 has been a year for creativity when trying to entice LP capital.

Covalent, and which aims to pool LP resources, will focus on mid-market buyouts and growth equity financings in North America and Europe, according to Wafra's Steve Moseley and AP3's Henrik Nordlander.

The firm had closed its predecessor Fund VIII in 2018, exceeding its $6bn target.

The Gulf region is defying a global economic downturn with extraordinary growth and a buoyant exit market, say Gulf Capital’s Dr Karim El Solh and Asaad Salhab.

It’s not unusual for new products to come under scrutiny in their ‘growing up’ phase, but some concerns around NAV loans may be misplaced, write Samantha Hutchinson, Brian Foster and Mike Hubbard at Cadwalader, Wickersham & Taft.

New entrants, use cases and increasing adoption highlight the potential scale of the market opportunity, but LP buy-in will be essential to growth.

The investment arm of Peruvian conglomerate Grupo Romero will look to back Hispanic businesses across the Americas.

A portion of the NAV facility will be used to issue distributions back to LPs and is recallable if needed in the future, Private Equity International understands.

Technology will continue to be a core sector in private equity portfolios despite the recent correction, says UBS Asset Management’s head of multi-manager private equity Americas, Nicola Goll.