Madeleine Farman
Getting a fairness or valuation opinion on a private equity GP-led secondaries transaction is a straightforward, albeit costly, task. But in credit secondaries, the rule change creates a cumbersome burden.
Getting a fairness or valuation opinion on a private equity GP-led secondaries transaction is a straightforward, albeit costly task. In credit secondaries, however, the rule change creates a cumbersome burden.
The strategy is ‘poised to scale and become a flagship fund’, executives said on the firm's second-quarter earnings call.
The GP stakes and financing solutions platform is backing alternative asset managers across North America, Europe and Asia, CEO Avi Kalichstein tells affiliate title PEI.
Chief executive Christian Sinding had said on the firm’s Q1 earnings call it was pondering alternative liquidity options including continuation funds.
CVC Capital Partners IX, which is yet to hold its final close, is already larger than Blackstone's $26.2bn record haul in 2019.
The promotions bring the number of team members elevated this year to 15.
The firm, which closed its Pantheon Credit Opportunities Fund II in May, sees around 70% of dealflow coming from LPs, according to global head of private credit Rick Jain.
Greenhill's private capital advisory unit, which advises on LP and GP-led secondaries transactions, will be included in the acquisition.
The launch comes as Ares is set to mark the two-year anniversary of its acquisition of Landmark Partners.
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