Managers will need to focus on delivering alpha as the private equity industry faces a more volatile market, say Ares’ Matt Cwiertnia and Scott Graves.
The New York-headquartered firm, which makes control-oriented investments in financially or operationally distressed companies, will focus mainly on the industrial sector.
The Swiss banking group will seek up to €200m for a vehicle targeting primary fund commitments, directs and secondaries opportunities across private equity, debt and real estate.
The special situations manager has secured commitments from mostly offshore LPs such as funds of funds, European family offices, and US and Asian endowments.
Brexit is a large contributor to challenges that have plagued Terra Firma’s portfolio company Four Seasons Health Care, he said at a PEI conference in New York.