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The UK private equity giant has grown its exposure to discount retailer Action, whose exiting LPs achieved a gross multiple of 31.3x.
Neil Harper, who has been at the bank's investment partners unit since 2006, is the group's second senior departure in six months.
With the addition of Oaktree, a respected credit business, Brookfield has shown how debt investing has risen to prominence post-global financial crisis and become crucial for being a global diversified asset manager.
Wedding Ring, Diamond Ring
The transaction involves six assets acquired on a deal-by-deal basis since 2012 including Danish luxury brand Georg Jensen.
The Deutsche Bank spin-out has led a consortium comprising Blackstone, Hamilton Lane and GCM Grosvenor that backed a deal involving six of Argonne Capital's assets.
The close of the deal comes six weeks after sister title Secondaries Investor reported the transaction was set to become the largest-ever GP-led restructuring.
The firm's last dedicated secondaries fund, focused mainly on fund restructurings, closed in April 2017 on $1.1bn.
A handful of big-name deals pushed GP-led processes into the mainstream in 2017, but questions around their planning and execution will dominate discourse going into 2018.
A revamped internal structure, new business lines and a focus on separate accounts have helped the firm thrive in a tough market for funds of funds, says head of secondaries Wouter Moerel.
Credit Suisse’s Jonathan Abecassis responds to PEI’s assessment of GP-led fund restructurings and the need for a genuine ‘do-nothing’ option for LPs.
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