GP stakes

Attractive competitive dynamics, value creation potential and monetisation optionality make the mid-market ideal for GP stakes, say Investcorp Strategic Capital Group’s Anthony Maniscalco and Weston Wilkinson.

The GP stakes industry is now old enough that LPs can demand track records and not simply projections, says Robert Hamilton Kelly, global co-head of Petershill strategies at Goldman Sachs.

Next-generation managers may be an acquired taste for asset owners, but the potential for alignment can create attractive GP opportunities, according to Wafra’s Adel Alderbas and Gustavo Cardenas.

In the mid-market, effective GP stakes strategies prioritise thoughtful growth while staying true to a firm’s core values, explains Brad Pilcher, partner at Bonaccord Capital Partners.

Now that continuation funds are providing fresh liquidity options, LPs are waking up to the appeal of GP stakes investing, according to Proskauer partners Jennifer Dunn, Grant Darwin and Ryan Carpenter.

GP stakes deals are inherently bespoke and require tailoring to the specifics of each transaction, say Fried Frank Harris Shriver & Jacobson’s Randi Lally and Ariel Zell.

The scale, resources and influence of GP stakes funds enable them to address issues that many mid-market GPs may not be able to tackle alone, say Hunter Point Capital’s Conway Bate and Jana Wayne.

A founding partner of Blue Owl's GP stakes business has left while it raises a new fund. Plus: why an ex-Monument team are launching their new shop from a position of strength; and a look at which secondaries strategy boasts the strongest DPI. Here's today's brief, for our valued subscribers only.

The lack of advisers and minimal competition in Europe means valuations remain favourable for investors, according to the GP stakes firm.

There are countless private markets firms that need a partner to help them grow in an era of scarce alpha and capital, says Arctos managing partner Ian Charles.