It’s instructive to see the evolution of the market, including various ways to provide liquidity to investors in older funds, even when some more traditional exit paths are closed.
Around 14% of GP-led market volume in the first half involved growth and venture capital, which was up markedly from the first half last year, according to Lazard’s half-year secondary volume report.
The pension fund, which held its biweekly board meeting October 3, said that it would commit $750m to its private equity portfolio.
For Thoma Bravo and other technology-focused private equity managers, a key source of liquidity today is more active strategic buyers.
Private equity AUM, now totaling $135bn, is expected to double in the next five years to reach $270bn, co-heads David Sambur and Matt Nord said at Apollo’s 2024 Investor Day.
The sovereign wealth fund will likely have to increase its commitments to the asset class to $1.5bn in FY2025.
As some portfolio companies have thrived and grown beyond expectations, many firms are looking beyond the traditional public filing for solutions.
The pacing projections were set a week after the system’s investment committee approved a rebalancing of its funds' private equity target allocations.
Deal attribution is a major factor in helping potential fund investors understand the track record of the founders.
Some curtailment of the scope of direct investing, and the reintroduction of fund investing, mark a fundamental shift from the past practice of an innovative Canadian institution.