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Investment Allocations
Heady fundraising could force GPs to deploy and inflate valuations. Far from being concerned, Stephen Whatmore spies a lucrative path to exit for QIC’s private capital portfolio.
The future of private funds as a longer-term investment option has become a commonplace goal for the market, write Troutman Pepper lawyers Julia Corelli, Stephanie Pindyck Costantino, Patrick Bianchi and Theodore Edwards.
Though increasing in popularity, growth equity investing poses unique issues for sophisticated investors, including the need to research alternative approaches to exit strategies.
Growth investing should be about forming deep relationships with a small number of great companies, says Dave Welsh, partner and global head of tech growth at KKR.
In its Q1 earnings call, Ares said it closed a second special opportunities fund at a $6bn hard-cap and will later this year or early next launch a seventh flagship corporate PE fund.
Funds in market are seeking an almost 70% increase from the same time last year, according to PEI's latest quarterly fundraising report.
The end of the rapid fundraising era, dealing with LP rejection and an overreliance on performance as a selling point were some of the themes that emerged in a jam-packed two days in New York.
The Japan Science and Technology Agency's university endowment will initially rely on gatekeepers until it has enough internal resources to invest directly, PE head Yasuyuki Tomita tells PEI.
AXA Hong Kong and Japan will source PE opportunities as an extension of the insurer's current primaries model, which is managed centrally from Germany.
Private valuations have stayed high, despite erratic public markets, inflation fears and geopolitical shocks.