Podcast - Credit Funds: How PE Funds Can Address and Minimize Conflict When Expanding Into Credit
Patience is proving to be a virtue for a private equity industry that began 2024 sitting on more than 28,000 portfolio companies valued at more than $3 trillion, according to a report by Bain & Company, as average hold...more
Over the past several years, sponsors have increasingly relied on add-on acquisitions to increase the value of their portfolio company investments. As EBITDA and revenue multiples on larger platform acquisitions increased...more
For a majority of PE, VC, and debt funds, catch-ups are 100%, but they are likely to be less than 100% for real estate and infrastructure funds. In a previous article, we showed that hurdle rates set by private...more
Private equity funds show the least variation, with 80% of PE funds setting hurdle rates at 8%. Real estate funds are almost as likely to set rates at 7% or 9% as 8%....more
GP-led secondary deals — where a sponsor initiates the sale of portfolio companies from a fund it manages to a new fund it also manages — were a prominent feature of the private equity landscape in 2022, encouraged by...more
In an ultra-competitive deal market, investors continually look for attractive opportunities to deploy additional capital. While “independent sponsors” have been around for many years, the number of independent sponsors is at...more
It’s no secret that it has become more difficult for traditional private equity firms to raise captive funds. In fact, California Public Employees’ Retirement System is looking to further reduce its number of private equity...more