Jeff Shi的动态

According to the Private Equity Wire summary of Investec's latest Secondaries report, amongst others, "managers are expanding their fundraising bases, with high-net-worth individuals (HNWI) identified as a primary pool of capital expected to contribute to fundraising growth. Nine in ten managers expect an increase of investment from HNWIs in the year ahead." Implementing securitization to pool investors offers many advantages: from investible and bankable ISIN numbers to elimination of cumbersome PPMs & SubDocs. Contact me if you are interested to learn more ?????? Camino Capital Partners #privateequity #secondaries

How many GP's on a deal is too many? As a passive investor I would say 6. Theres usually an issue when there's too many cooks in the kitchen. There is always outliers and theres deals that might have 8-12 that do amazing. But, usually the reason there is so many GP's is due to issues with raising capital. With every deal there is the core group of GP's who are usually managing the asset and found the deal, and then a handful of "capital raisers" who might have as small as 1% GP or 40% depending on their contribution. As an LP I would say to look out for this and make sure all GP's are actually contributing to the deal since this can be a headache waiting to happen. #Syndication #multifamily #CRE #SFR #investing #passiveinvesting #limitedpartner #generalpartner

GP-led deal activity to drive further secondaries market growth - https://lnkd.in/grCDtjdx As liquidity constraints put pressure on the private equity industry, the secondaries market is expected to grow substantially over the next twelve months, with fundraising and deal flow set to expand, according to Investec’s latest Secondaries Report, Charting a Course for Further Growth.

Did you know the secondaries market hit $68 billion in transactions in just the first half of 2024? It's on track to reach $140 billion by year-end! In our latest Q&A with Derek Li from JD Paramount, we dive into what’s driving this explosive growth. From GP-led transactions to cutting-edge tech reshaping the space, the secondaries market is evolving fast. But with big opportunities come complex challenges—are investors prepared? Read the full article here: https://lnkd.in/gk69dp4z #SecondariesMarket #PrivateEquity #Investing #GPled #Liquidity #JDParamount #InvestmentTrends #SIS1

There is a reason why secondaries market has become a crucial part of a well-rounded, diversified investment portfolio. It provides a wide variety of benefits such as attractive returns, reduced risk, lower volatility, and enhanced cash flows. For #familyoffices the drive to achieve capital preservation and weath accumulation is a never-ending, ever-evolving core objective that is at the heart of every discussion. Secondaries market for sure can be leveraged to help achieve such goals!

Bloomberg - Ares’ Arougheti Sees More Deals as PE Investors Clamor for Cash Ares Management Corp.?Chief Executive Officer?Mike Arougheti?said the firm’s pipeline for lending to middle-market buyouts — a key business area — is growing as private equity sponsors look for cash. “Investors are clamoring to get their money back,” he?said Wednesday at the Bloomberg Invest?conference in New York. Ares isn’t seeing any cracks in private credit, Arougheti said. The firm has close to 4,000 middle-market investments, and credit performance has remained strong, he said. Maintaining the performance of its credit book will be essential for Ares as it builds assets under management to its goal of $750 billion by 2028, from $428 billion at the end of the first quarter. https://lnkd.in/emeAxnnJ Slide - Ares Investor Day 2024 /May 21, 2024 https://ir.aresmgmt.com/

SPP Capital Partners shares its latest monthly update on the US Private Capital Markets: "The Dam has Broken" How much data do you need to see to become comfortable with the direction of the US economic climate? The US economy is growing faster than any other developed country.?We remain at full employment.?Inflation rates have moderated for several months at well below 3%.?Our economy is the envy of the post-Covid world. In response to these points and other strong economic indicators, the Federal Reserve cut interest rates by an aggressive 50 basis points while indicating that more rate cuts are coming. There are points of uncertainty that remain in our economy; there always are and will be.?Macro trends are pointing to a soft landing, lower capital costs and an opportunity for mid-cap companies to plan for and execute growth and liquidity strategies with the wind at their backs. While commercial banks remain conservative in their approach to mid-cap borrowers, institutional non-bank direct lenders are growing aggressive.?This can be seen in a tightening of lending spreads over SOFR rates.?For such lenders, it is a “Risk On” environment.?This is another data point that can be referenced by mid-cap companies:?credit professionals of the fastest growing source of capital for mid-cap companies have the confidence to invest. Owners and CEOs of mid-cap companies are in position to act on long-considered growth opportunities, whether through organic initiative or acquisitions.?With a strong economy and capital available, the question to solve for is how to make your business as competitive – and valuable – as possible. If you remain reticent and/or risk averse in the face of overwhelmingly positive macro-economic trends, it may be prudent to seek liquidity through the sale of all or a significant portion of your business.?While “bubble pricing” for corporate sales has abated, full, fair valuations are still the norm for healthy companies. This is a time when doing nothing may be the highest risk strategy. If you would like to discuss your company’s funding requirements and opportunities, please message me or Stephan Shaffer at SPP Capital Partners, LLC P: 212-455-4502 [email protected] Securities Offered through SPP Capital Partners, LLC: 550 5th Ave, 12th Floor, New York, NY?10036.?Member FINRA/SIPC #Mergers; #acquisitions; #financing; #strategicplanning; #capitalraising

Learn new Insights for Investing----#Day 5/Day 30 Understanding #ROE and #ROCE ROE measures a company's profitability relative to shareholders' equity, highlighting how effectively it uses equity to generate profits. In contrast, ROCE evaluates profitability and efficiency in using total capital, including both #equity and #debt. ROE is crucial for assessing equity returns, while ROCE provides a broader view of overall financial performance, especially in capital-intensive industries. Both metrics are complementary and important for a comprehensive analysis, as they help investors understand different aspects of a company's financial health and efficiency. #fundraising #alternativeassets #privatemarkets #fundmanagers #privateequity #emergingmanagers #capitalmarkets #institutionalinvestors #middlemarket

When did Continuation Funds become a barometer for signally trouble in a Fund or Portfolio? Just like any good housekeeping activity #continuationfunds can be more a sign of the times than problems inhouse. They also have the added benefit of provide flexibility in the timing for Portco exits, extended liquidity to existing investors (if LP's want to continue), and open up the new fund to allow secondary access to new investors. They can even enhance a funds performance and could be argued, essential to the health and growth of the market as it attracts new types of lenders and brings liquidity to GP's. Whatever the underlying reason Transparency must always be key as "ambiguity will be perceived negatively". At a recent UK Real Deals Media The Drawdown event we discussed the use/misuse and misconceptions around extended term hold periods, continuing financing and exits. Charlotte Spring Richard Phillips Amar Shah Stephen Quinn Jeremy Cross James Rock-Perring Jon Whiteaker Interesting set of data on recent fundraising activity in the US and Europe. Janelle Bradley PitchBook #privateequity #continuingfinancing #investment #pensionfunds

How to finance a note acquisition... On a typical deal, and #institutional equity partner will expect there to be low to moderate leverage (50-70% LTC) in order to generate the levered #returns they are looking for. At the same time, institutional #equity is typically very risk averse, and looks for efficient interest rates (why use bridge when you could use agency financing?) and positive leverage. In recent months, we at Livi Kapital made a determined effort to network with sponsors with experience buying #notes. This was due to the serious interest from many family offices and private equity funds to get into the #space. (foreseeing the pain that would manifest itself in the market.) The challenge though is evident... Notes, particularly when they're distressed, do not produce #cashflow. They could be rapidly earning interest at a sky high default rate, but all of that simply accrues at gets added to the unpaid principal balance. So you may be thinking. Do the institutional investors still #expect leverage on note acquisitions? Or is that simply too risky a proposition for them? (After all, note on note financing could be incredibly expensive.) The answer is the #latter. When it comes to note purchases, we've found that many, if not most, are open to buying the notes all #cash. But at the same time, they are not willing to sacrifice on #returns. Therefore, when looking at a note deal, it is very important that the #UNLEVERED returns for the deal will be comparable or better to #LEVERED returns on a typical acquisition. That's at least what we've found speaking to many investors in the space... Would love to here from people who have extensive experience in the note space, especially if you differ with my assessment here. A. Yoni Miller Charlie Vasbinder Steven Kashanian Adam Hajibai Zach Murphy Trey Palmedo