Secondaries

From sports investments to secondaries transactions, meet the dealmakers making a name for themselves in the industry.

GPs are seeking partners that can provide a powerful growth engine and expertise around product expansion, say Joshua Blaine, head of GP stakes, and Ward Young, CIO for GP stakes at Blackstone.

The country's official cabinet has published a nine-point circular to ‘strengthen supervision’ on capital markets, including updates on listing process and delisting regulations.

GPs are facing more significant DPI challenges than ever, despite valuations having returned to a steady state, according to the direct secondaries specialist's founder David Wachter.

The deal would allow Rubenstein to sell partial stakes in several assets, which will support his investment in the Baltimore Orioles Major League Baseball franchise, sources said.

The deal is part of a wave of LP secondaries that are being driven by fund investors' desire to get proceeds from older funds.

While Leonard Green’s transaction is giving cash-out LPs the benefit of both processes, the 'quick flip' issue remains controversial in continuation fund deals where assets are quickly exited.

With Kaiser Permanente returning to market with its third billion-plus portfolio in as many years and more first-timers taking the plunge, secondaries players are hopeful more LPs will take a regular approach to the strategy in the years to come.

Smaller managers are under pressure to commit to their own funds as LPs seek stability in a volatile market.