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Novak is also an active deal team member on current portfolio investments in WF Cabinetry and Regent cabinets, as well as prior investments in The Delaney Hardware Company, Naumann Hobbs Material Handling, and Dynamic Systems. Previously, he worked at Robert W Baird in both investment banking and equity research.
Apollo Global Management Inc has secured a $5bn commitment from BNP Paribas SA to boost its private credit lending operations, marking a significant step in the firm’s effort to expand in areas traditionally dominated by banks. BNP’s initial $5bn facility is expected to grow over time.
By doing so with reputable and established players – from a funding, asset class and sector perspective – Aldar is gaining a meaningful foothold in a high growth market, particularly as the market continues to mature and in the context of the strong growth witnessed in non-bank lending.
The winners are: Managers Performance of the Year – Capital Raise: Buyout – Hellman & Friedman (Hellman & Friedman Capital Partners XI) Performance of the Year – Capital Raise: Fund of Funds – Goldman Sachs Asset Management (Private Equity Managers 2023) Performance of the Year – Capital Raise: Growth – Wellington Management (..)
MANAGERS Emerging Manager Best Fundraising – Buyout – Further Global Capital Management LP – Further Global Capital Partners II LP Emerging Manager Best Fundraising – Coinvestment – West Monroe Capital Emerging Manager Best Fundraising – Debt – Atalaya Capital Management Emerging Manager Best Fundraising – Growth – Lone (..)
What is the origin of GP-led secondaries investments and how has the market evolved? Nash Waterman (NW): GP-led deals were initially designed in the early 2000s to help managers of private equity portfolios spin out of banks. Single-asset transactions are now the fastest growing segment of secondaries.1
Same with banks—they’re equally incentivized to have you figure out how to bring customers in the door after they loan you money. Not only is dealorigination likely to disaggregate, but so will the end purchases.
Gilbert supports the investment team with dealorigination, deal execution and portfolio management. Gilbert joined WestBridge from US investment bank Stephens. Prior to WestBridge, Sinclair was at HSBC, where she started her career. He is a member of the survey solutions investment team and works closely with Sinclair.
Independent Sponsors leverage these directory member profiles to maximize their visibility with exit-minded business owners, dealmakers assembling buyer lists, and investment and operating talent.
The deal went to market confidentially via Axial in Q3 of 2021, was in market for 204 days, and the transaction closed 228 days after the LOI was signed. Along with cash and bank financing, the structure of this LOI, which was executed by an Axial independent private equity sponsor, also included a seller note.
On Axial’s dealorigination platform, it has accounted for the highest volume of deals each year, representing anywhere from 20% – 34% of total annual deals since 2009. For many years, the Industrial sector has served as the driving force of lower middle market M&A.
Operator Our next question comes from the line of Jeff Spector with Bank of America. Lizzy Doykan -- Bank of America Merrill Lynch -- Analyst Hi. And if you take the 1.450 billion and you invest it in the bank at 5.5%, that's $70 million. David Simon -- Chairman, President, and Chief Executive Officer Thank you.
Partners already influence more than two-thirds of our ARR, but we believe we can scale them to deliver far more dealorigination than they do today. We did see an uptick in dealorigination above the 30% level that we've historically had in the quarter. Second, we continue to emphasize the criticality of partners.
Partners, today, influence more than two-thirds of our ARR, but they account for only 30% of dealorigination, highlighting the enormous whitespace of opportunity in this area. Our next question comes from the line of Koji Ikeda with Bank of America. Koji Ikeda -- Bank of America Merrill Lynch -- Analyst Yeah.
I guess it's probably more among the strategic buyers of your partners, bank, and selling, which would maybe pull you in as a financing source. So given that the Venetian dealoriginally had potential to be up to $1 billion, does that mean there remains another $300 million here down the line? Please go ahead.
Greater dealorigination requires a wide top of funnel, you always need to have multiple irons in the fire.” Sell-Side Intermediaries rank as #1 with 83% utilization, while Deal Networks and Proprietary Sourcing rank as #2 and #3 respectively with 77% and 75% of survey respondents utilizing them. What changed all of a sudden?
Our next question is from Krisztina Katai from Deutsche Bank. Krisztina Katai -- Deutsche Bank -- Analyst Hi. Krisztina Katai -- Deutsche Bank -- Analyst Thank you. Krisztina Katai -- Deutsche Bank -- Analyst Great. Ohmes from Bank of America Merrill Lynch. Gary Millerchip -- Chief Financial Officer Thank you.
Primarily through growth synergies from proprietary dealorigination, larger transaction sizes, capital formation scale, and multi-asset class infrastructure investment innovation, we see opportunities to drive significant value creation for BlackRock shareholders. Craig Siegenthaler -- Bank of America Merrill Lynch -- Analyst Hey.
The winners are: Managers Overall Fundraising of the Year: Buyout – Apax Partners (AMI Opportunities II) Overall Fundraising of the Year: Co-invest – Blantyre Capital (Madison Square Fund III) Overall Fundraising of the Year: Fund of Funds – LGT Capital Partners (CROWN PREMIUM Opportunistic Strategies I) Overall Fundraising of the Year: Growth – 7 (..)
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