long-term funds

Macfarlanes' Christopher Good examines how such vehicles should be structured in order to maximise incentives while managing return expectations.

The firm is acquiring a 19.9% stake in DSA Reinsurance from AIG in a deal that includes $6bn earmarked for Carlyle funds.

Bridges Fund Management – a pioneer of the strategy – held a second close on £50m for its debut permanent capital vehicle last week, PEI can exclusively reveal.

The fund would invest in senior and subordinated debt along with structured equity and non-control positions in financially troubled companies.

Several vehicles that hold assets for longer than the traditional three to five years arrived on the scene this year and investors can expect more in 2018.

Co-founder Leon Black said the vehicle is a work in progress and one of several projects to augment permanent or long-term capital at the firm.

From Sydney to Boston, a slew of firms emerged this year and raised capital from limited partners betting that getting in early can pay out big.

Investors are waking up to the appeal of long-life fund structures, a report has found.

The London office of the Kuwaiti sovereign wealth fund has lost its alternatives head and sold a raft of European fund stakes amid a Brexit-inspired audit by head office.

One of the first firms to raise capital to take minority stakes in GPs will scrap the traditional fixed-term fund model, founder Chas Burkhart tells PEI.