The goal is to provide for stable and predictable cashflows and market leadership positions that result in compounding returns over a longer timeframe, the firm has said.
PE firms are diversifying away from traditional third-party blind-pool fundraises amid further inflows from long-duration funds, GP stakes, insurance M&A and SPACs.
BlackRock is reportedly stepping down capital-raising efforts for its long-term capital fund, a strategy that has raised nearly $50bn from LPs in the last five years.
A new asset class targeting ‘durable, high-quality companies with predictable cashflows and based in non-cyclical sectors’ sounds awfully familiar.
The firm has also 'materially concluded' fundraising for its latest flagship, chief executive Christian Sinding said on its earnings call on Wednesday.