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The firm's core PE strategy, which since inception has earned a 26% gross IRR, oversaw $32bn of assets at the end of March.
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.
The firm launched a longer-hold PE strategy early this year and is readying a similar vehicle focused on core infrastructure.
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.
Problem Solving
Competing sources of capital and a strategy yet to be untested during a downturn pose challenges for long-hold fundraisings.
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 long-life fund manager raised €1.25bn for its second offering, one of the latest in a strategy garnering more attention amid the crisis.
Number three
Blackstone Core Equity Partners II is the largest long-term private equity vehicle ever raised, in an increasingly competitive market.
The firm has also 'materially concluded' fundraising for its latest flagship, chief executive Christian Sinding said on its earnings call on Wednesday.

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