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Progressio SGR, the Italian private equity firm, is raising a new fund, Progressio Investimenti III, in response to LP demand and a doubling of proprietary dealflow over the past five years. Progressio will raise EUR225 million for a final close at the end of 2017, after a summer first close.
High Yield bond activity for LBOs resumed in 2Q24 with €1.23bn, while half-year issuance was the lowest since H1 2017. The latest dealflow shows how buyouts are evolving in this landscape, with direct lending acting as a significant feature of the market dynamics.”
Since 2017, the syndicate has deployed $8.4m It is what drives our dealflow, information advantage, ability to support our network, and more. across 25 investments into 16 companies. I estimate the current value to be $16.1m I care about the success of my business (e.g.
It’s been incredibly difficult for both professional and personal reasons—and if I hadn’t met my wife Aja in late 2017, this would have all been a pretty dismal time, to be honest. That’s why I share my dealflow with them free of any additional fees and carry. Let’s start with my fundraising timeline.
Since 2017, the syndicate has deployed $8.4m If I am doing my job right the first time in “picking winners”, at least for a few subsequent rounds, our best dealflow should come from our existing portfolio. It is what drives our dealflow, information advantage, ability to support our network, and more.
Vetting dealflow is part of the job. However, I can also say that I feel less isolated in this role now than I did 18 months ago for one main reason - I had the good fortune of being part of the 2017 class of SLP. Your network never signed up to do your outsourced job for you.
We have closed 12 independent sponsor transactions since 2017, have 10 current portfolio companies, and are targeting a minimum of four new platforms per year going forward. Over the years, we continued to grow the investing part of the business and slowly decrease the investment banking portion. Any notable differentiators for the firm?
Ed Sheeran's Divide released in 2017 and Dua Lipa's Future Nostalgia released in 2020 are both in our top-earning albums for the quarter. So, it's really -- it's basically about the dealflow if you really put it in business terms. These new releases are our catalog of the future.
Our partner network continues to generate opportunities and open new dealflow. We began our partnership with Con Ed in 2017, initially focusing on the advanced metering infrastructure project. We had a very active first quarter in alliances, working closely with our partners to close new agreements.
This is primarily on the pre-COVID 2017 to 2019 accident years, where the loss experience continues to outpace expectations. Mark Hughes -- Truist Securities -- Analyst Wonder if there's any more detail you could provide on the reserve development that you're seeing you described in the 2017 to 2019 accident years? casualty book.
She's been with the company as the CEO since 2017, and I think she's really helped stabilize this business, she's helped return to growth and I know that growth might not be software type growth or anything. But this is really one that it's taken a turn for the better.
A syndicate is a group of investors that pools their capital to invest into deals (SPVs). I worked with lawyers and an accountant, opened a bank account, got everyone to sign documents, collected money, and closed my first SPV on December 12, 2017. Six of us invested $350,000.
As we look forward, dealflow is significant. In 2017 -- or '18, I think it was, we acquired Prosper. That includes the great financial crisis, that includes the period of COVID, and we go back to the late 80s and early 90s, some of us. The investment opportunities we're seeing are very, very attractive.
Our scale enhance our proprietary deal sourcing, access to the execution of dealflow, deeper liquidity, lowering trading costs, all of which benefits each and every one of our clients. Private markets have mainly been accessible to institutional investors, while private wealth holdings underweight by comparison.
So, so you drop outta Harvard, is that 2017? Eva Shang : We drop out of Harvard in 2016 and it takes us a full year to raise our first $10 million fund in 2017. We’ve done over 400 deals. I mean, so we raised our first fund in 2017. So you have 400 investments done since 2017. They must have been bereft.
A 2017 World Bank report, citing benchmarking analysis, found that Canadian public pension funds had net returns that substantially outperformed those of comparable global funds over the preceding decade.
But I would add, we had just gone public at the time, 2017. So that was in 2017, we went public on Euronext Paris. We launched our very first growth private equity strategy in 2017-2018, way before it has, as I said, become a must-have strategy for many managers and for many allocators. Is it just the size of the US market?
As we begin 2025, seven years after our IPO in 2018, I want to highlight 2024 and reflect on how far our balance sheet has come since, well, going way back to our preemergence in the summer of 2017 when VICI had total leverage of roughly 10.5 After we emerged in October of 2017, we got to work on fixing our balance sheet.
But as we look at 2025 and given what we're working on, we remain confident that we are going to be bringing to the table both gaming and nongaming deals, big and small. But I think to your implicit point, John, at a time like this, you really want to understand that given operators' ability to compete profitably for market share. John Payne?
BlackRock has invested originally -- has invested organically and inorganically in growing our infrastructure platform, which has 50 billion in AUM, having tripled since our acquisition of First Reserve in 2017. BlackRock has already demonstrated our access to some of the largest pools of capital in the world.
Below are links to more performance details across our (i) primary fund vehicle which started in 2021, (ii) SPVs I have led since 2017, and (iii) a summary that incorporates both along with the angel investments I made prior to launching the fund.
Due to increased dealflow and revenues, we grew diluted earnings per share 33% year over year to $0.85 The one other thing I would say on that is that business took a step backwards when the Trump administration in 2017 passed the JOBS Act and tax reductions at that time where the corporate income tax came down significantly.
In 2017, we saw a historic investment opportunity emerging in the U.S. We've been investing successfully in energy infrastructure projects for over a decade, other private equity and credit funds, which along with our extraordinary real estate franchise made infrastructure natural extension as a new business line.
There's also a variable around the sort of the level of dealflow a year ago and the benefit that comes from buying those funds at a discount to the fund returns in the short term. But long term, overall, it is an outstanding track record.
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