The Carve-Out | Blackstone’s private wealth push, risk appetite warms, mega funds close mega raises
Private Equity Wire
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This week in private equity
?? Leading the private wealth charge, Blackstone ’s first ever fund aimed at wealthy investors has raised $1.3bn, Bloomberg reports. Read more ?
4?? Four of NYC’s five public employee pension funds are to up allocations to private equity and other illiquid strategies to boost returns. Read more ?
?? Ocorian finds nearly six out of 10 alternatives managers expect their organization’s risk appetite to increase in the next 12 months. Read more ?
?? Ares Management Corporation has named Stefano Questa, former Partner and Portfolio manager at Hayfin, as Partner and co-Head of Europe for Alternative Credit. Read more ?
?? Apollo Global Management, Inc. is gearing up to raise $2bn in capital commitments for its latest fund, focused on secondary credit investments, Bloomberg reports. Read more ?
?? Blackstone has promoted Kenneth Caplan and Lionel Assant, global real estate and European PE leads respectively, to Global co-CIO roles. Read more ?
The week in numbers
?? $20bn+ – funds raised by Ares for a direct lending fund, the largest evert on record, ahead of its final close – Bloomberg reports. Read more ?
?? $22.7bn – funds raised at final close by Lexington Partners for its 10th global secondary fund, well in excess of its $15bn target. Read more ?
?? 2.8x – returns secured for YFM’s investors, after the firm sold its shares in KeTech Defence to safety and security firm Wescom. Read more ?
? $14.5bn – funds raised at final close by Cinven for its eighth flagship fund, reaching its hard cap and beating its predecessor by 30%. Read more ?
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