Hot off the press: our April issue
The latest issue of Private Equity International is out today, including our recent sit down with Suyi Kim, global head of private equity at CPP Investments, in Hong Kong. The world’s largest private equity investor found it “very challenging” not being able to visit China during the country’s closure, according to Kim, who says the Canadian pension giant’s exposure to the country is “meaningful” and that there are internal China policy changes that the pension needs to get its head around better. You can read the full interview here.

Also in this issue is our annual fundraising report, which looks at how fund terms are becoming more reflective of market conditions and how some of the listed PE giants are pivoting to different strategies in a bid to beat the market. Separately, our Tech-enabled Investing 2023 special report looks at how technology is being used to address valuation and deal origination challenges.

You can download the full issue here.

From French buyout to energy player
Last week, we noted that Paris-based Omnes Capital had restructured into an energy transition-focused firm, following the carve-out of its buyout division by listed investment firm IDI. Our colleagues at Infrastructure Investor have since spoken to Serge Savasta, now chief executive at the firm, who walked them through the rationale behind the move. “Two years ago, we had seven activities ranging from small-cap French LBO activities to the international renewable energy private equity approach to infrastructure,” Savasta told Infrastructure Investor (registration required). “It made sense to split the group of activities into two companies, the first one being dedicated to energy transition and innovation. And the second, as a group of activities, more LBO and French market-orientated.”

Omnes is in market with its fifth renewable energy fund, Capenergie 5, with a €1.35 billion target. Along with renewable energy, the firm will back investments focused on sustainable cities and deep tech venture capital.

Goldman gives credit where it’s due
Trading in secondhand private debt fund stakes has grown in recent years, accounting for 4 percent, or around $4.4 billion, of total secondaries volume last year, according to data from Greenhill. The latest firm to think about entering this market is Goldman Sachs Asset Management.

In an interview with PEI senior editor Adam Le, the bank’s chief investment officer of wealth and asset management, Julian Salisbury, said credit secondaries was something the firm was working on. “We have a traditional private equity fund; we have a real estate secondaries fund; we have an infrastructure secondaries fund; we’re a primary participant in credit funds through our AIMS business. It’s a very natural extension that we would look at credit secondaries,” he said.

We’ll have more from the conversation with Salisbury this week.

Essentials