People – Firms

The secondaries advisory market is seeing high levels of turnover as new advisory and principal investing shops spring up to meet demand.

Antares last year secured $3bn for Antares Senior Loan Fund, the Chicago firm’s first major, broadly-marketed institutional vehicle.

With the market recovery, and more pricing certainty, LP portfolios were expected to come back in a big way this year.

With eight exits, including the public offerings of Vroom, Coupang, Wish and Coursera, Alpha Partners co-founder Brian Smiga talks about the firm's approach on investing alongside the pro-rata and what he thinks of opportunity funds and valuations.

The case is an example of insider trading involving private equity deals, which is rare and usually involves professionals outside of the firms themselves with access to confidential information.

Rozenblit announced this week the launch of his firm, Iron Road Partners, to work with alternatives shops on preparing for regulatory examinations and investigations, among other things.

LongRange, led by founder and managing partner Bob Berlin, last year raised $1.5bn from CalPERS for its inaugural fund, Buyouts reported.

Some LPs believe, when backing an ancillary product which is part of a much larger firm, that individual heads of those funds are not as important as the broader organization.

On balance, the LPs expressed frustration with aspects of the turnover but that was mitigated for some by Vista’s record of consistent strong returns.

In formalizing the GP-led strategy, Kline Hill joins several other firms like TPG, Blackstone Group and Partners Group that are building separate teams, and funds, to pursue such deals.