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The difficulties in exiting investments have made some institutional investors, including pensionfunds, more cautious about allocating capital to the region. As a result, buyout groups have sought alternative exit routes, such as selling stakes to domestic or multinational firms or other private equity groups.
Buyout firms have long relied on controversial loans backed by equity stakes to enhance fund returns, but growing investor criticism has triggered a slowdown, according to a report by Bloomberg UK. Many firms borrowed against their portfolio companies to sustain the private market boom while dealmaking dwindled.
Ultra-rich individuals and families worth more than $150bn are helping drive a resurgence in private equity buyouts, providing capital for some of the year’s biggest acquisitions to overcome a tough dealmaking environment. ASA in January with funding from Denmark’s Kirk Kristiansen dynasty, the owners of Lego Group.
Chris Witkowsky of Buyouts reports Canadian giant PSP Investments shops $1 billion-plus portfolio: PSP investments is shopping a large portfolio of fundstakes that could total up to around $1.5 billion, according to sources and confirmed by the pension system in a statement to Buyouts.
Buyout firm EQT AB is teaming up with Germany’s richest man to acquire a 35% stake in German bus and train operator Flix SE. Switzerland-based Kühne Holding owns a majority stake in Kühne+Nagel International AG and is the largest single shareholder of Hapag-Lloyd AG, Deutsche Lufthansa AG and Brenntag SE.
The report cites unnamed sources familiar with the matter as saying that Paris-based Ardian, which has around $150 billion under management, is ultimately targeting $25 billion for the new fund.
The market for secondary sales of private equity (PE) stakes is experiencing unprecedented activity this year as investors look to exit ageing assets due to a cash crunch and a slowdown in dealmaking, according to a report by the Financial Times.
Global buyout firm Apollo Global Management is building out a new team to target family offices as its looks to widen its fundraising efforts to include ultra-wealthy investors as well as institutions, according to a report by Bloomberg. read more The post Apollo To Target Top Family Offices appeared first on Private Equity Insights.
billion) for a credit fund for Australia and New Zealand, as it seeks to capitalize on opportunities created by banks retreating from leveraged lending. The Ares Asia Direct Lending fund, the company’s first leveraged buyout vehicle for the region, has deployed over A$1.04 billion) for a credit fund for Australia and.
Billion for Australia Private Credit Fund Ares Management Corp. billion) for a credit fund for Australia and. read more Dutch PensionFund Divests $3B from Fossil Fuel Firms Dutch pensionfund PFZW has completed a $3.02 billion) divestment of stakes in. Read more Ares Raises $1.7 has raised A$2.6
European utility Engie has joined forces with Canada’s second-largest pensionfund to try to buy British power network Electricity North West (ENWL), according to two sources with knowledge of the matter. Read more South Korea’s Hahn & Co raises $3.4bn for new buyoutfund Aircraft landing gear maker Héroux-Devtek Inc.
Ardian raises over $20bn for secondaries fund the Paris-based PE firm has set a target for the fund of $25bn French group Ardian has amassed more than $20bn to buy stakes in private equity funds from investors, highlighting a corner of finance that is defying the broader slump in fundraising.
As global funds seek alternative markets for investments and fundraising due to restrictions in China, Korea is emerging as a focal point. According to industry sources on Sunday, KIC will allocate 200bn won to Apollo Global Management’s 10th buyoutfund. stake in Indian cancer.
He was the long-time chair of the Toronto Port Authority and, earlier in his career, advised a committee of Canada’s Senate on issues that included the creation of major public-sector pensionfunds such as the Public Sector Pension Investment Board. Still, I will wait to read the final report to see what Mr. Poirier has to say.
Layan Odeh of Bloomberg reports CPPIB plows at least $5 billion into private equity in three months: Canada Pension Plan Investment Board poured at least $5 billion into private equity in the last three months of 2024 as the asset class regained appeal. stake in video-game provider Keywords Ventures Ltd. The investments included a 24.5%
banker Richard Ong, is seeking to raise as much as $2bn for a new fund that focuses on private credit in Asia. The Singapore-based firm has received initial interest from North American pensionfunds totaling $500m ahead of the fund launch in January, according to a fund document seen by Bloomberg News.
Renovus Capital Partners has held an oversubscribed and above-target closing of its fourth private equity fund, Renovus Capital Partners IV Core Buyout LP and parallel vehicles (Fund IV), with $875 million of capital. and abroad.
These types of plans commonly come in the form of pension plans. [1] 1] A pension plan guarantees a certain level of retirement benefit based on your salary and how many years you worked for the company. [2] They are funded mostly by the employee (though the employer may also make contributions). [8]
pensionfund manager sells $1-billion of private equity holdings to French buyout firm Ardian: British Columbia Investment Management Corp. is selling more than US$1-billion of stakes in private equity funds to French buyout firm Ardian SAS, tapping the secondaries market for private assets to free up cash for new investments.
The offer, made in partnership with UK-based pensionfund Universities Superannuation Scheme, is the latest of four indicative, non-binding proposals from KKR. KKR has had its 1.56bn bid for British healthcare property developer Assura rejected.
The Canada Pension Plan Investment Board , for example, which invests on behalf of the Canada Pension Plan , sold a diversified portfolio of limited partnership fund interests in mostly North American and European buyoutfunds to French private investment house Ardian for around $2 billion on Nov.
A higher cost of debt and slower economic growth have created a tough investing environment, pushing down the value of some private assets that pensionfunds own. Private credit has been one of the best-performing asset classes for some large pensionfunds in recent years, often earning double-digit percentage gains.
A change of philosophy When Longchamps took charge of CDPQ’s private equity business, its PE holdings were made up of 75 percent direct investments and 25 percent fund interests. These professionals had been trained to spot top private companies and PE funds, rather than to sell their investments.
billion; €6 billion) in liquidity last year, including roughly C$6 billion from selling direct investments and receiving dividend recapitalisations, and around C$3 billion from selling private equity fundstakes in the secondaries market, head of PE Martin Longchamps tells affiliate title Private Equity International.
Razak Musah Baba of IPE Real Assets reports OMERS to buy Allianz’s stake in Indian road infrastructure trust: Canadian pensionfund OMERS is buying Allianz Capital Partners’ 13.5% stake in Interise Trust , increasing its ownership in the Indian road sector infrastructure trust to 34.8%.
The pension doesn’t have plans to sell private equity investments to the secondary market to achieve the reduced target, Neil Randall, managing director of private equity at Texas Teachers, said at the board meeting. The pension isn’t writing checks to large buyoutfunds anymore, instead focusing on smaller middle-market funds.
Last year, APFC’s staff decreased its private asset allocation from 19 percent to 15 percent, hypothesizing that there were better risk-adjusted returns to be had in asset classes like fixed income and hedge funds. For example, under Willoughby’s leadership, APFC put $500 million to work in Dyal’s first GP stakesfund.
We service the institutional end of the market so most of our clients are pensionfunds. If you’re an LP and you’re investing in secondaries, your approach might be different from a direct primary investment where you came into the first closing of that fund. It will be a good discussion I believe.
is acquiring a minority stake in a corporate consultant and fund administration provider. Zedra, which provides wealth, governance and administrative services for corporations, pensions, trusts and funds, was launched in the Isle of Man in 2016. billion in capital across buyouts and $4.4 Corsair has invested $9.4
Fundraising will now continue up to the fund’s hard cap of 400m. The INVL Private Equity Fund II is sector-agnostic and will invest in companies with the potential to become regional leaders in their respective industries, focusing on acquiring majority or significant minority stakes.
Whereas Kleinman went in hard with his warning that “everything is not going to be okay” for buyout firms, Stavros joined in with the concession that his industry may have gotten “too creative” lately. When buyout groups do look to sell, PIKs, NAV loans and other kinds of excess baggage are creating obstacles.
Ian Bickis of The Canadian Press reports CPP Investments earned 8 per cent in latest fiscal year, net assets rose to $632 billion: Canada's biggest pensionfund earned an eight per cent return last year, but significantly underperformed the 19.9 Invested C$534 million in KPN, bringing our ownership stake to 2.9%.
We have a partnership with Just Climate, which is part of Generation, where we co-invest and have a strategic stake in the business. Private credit is another area the fund is looking at strategically. It’s got be strategic for us to have that stake, we won’t do it very often but it’s an area we are growing into.”
A month ago, Eliyahu Kamisher of the Los Angels Times reported that CalPERS pensionfund posts 5.8% gain in its latest fiscal year as the stock market rally and private debt buoyed the largest traditional public pensionfund in the United States. pensionfund, has yet to release its fiscal 2023 results.
Fuelled by revenues from Norway’s state-owned oil and gas companies, the fund is aimed at financing future spending in the generous welfare state. Around 71 percent of its portfolio was dedicated to equities, with stakes in 8,859 companies worldwide — or 1.5 percent of all listed stocks. percent in 2019.
A CPPIB spokesperson said the name of the fund is Canadian Fund-of-Funds V and that as an evergreen mandate, it's an additional commitment to a customized mandate with the pensionfund. billion fund of funds (which funds and how much for each stake) as this is Canadians' pension assets.
It encompasses strategies such as venture capital, leveraged buyouts and investing directly in publicly-traded private equity firms. Leveraged Buyouts In contrast, there are leveraged buyouts (LBOs) that involve acquiring established companies with the aim of restructuring or improving their operations to enhance profitability.
It encompasses strategies such as venture capital, leveraged buyouts and investing directly in publicly-traded private equity firms. Leveraged Buyouts In contrast, there are leveraged buyouts (LBOs) that involve acquiring established companies with the aim of restructuring or improving their operations to enhance profitability.
It is for this reason that Canadian pension giant BCI finds itself in a rather enviable position. billion) public pensionfund has spent much of the past decade using the secondaries market to cultivate a comparatively liquid portfolio of illiquid assets. billion; €158.2 Asia-Pacific represented 9.7
CPP Investments will remain an investor with a 24% stake in a newly formed open-ended logistics core fund, which will house KDV I’s stabilized assets. CPP Investments will remain an investor with a 24% stake in a newly formed open-ended logistics core fund, which will house KDV I’s stabilized assets.
Paula Sambo of Bloomberg reports Canada pensionfund's credit head wants to take advantage of leveraged buyout boom: Canada’s largest pensionfund plans to nearly double the size of its credit holdings over the next five years, and it’s counting on an upturn in leveraged buyouts to generate some of that growth.
In private credit, tightening credit conditions resulting from a handful of bank failures and rescues in the United States have opened up opportunities for non-bank players like pensionfunds, he said. So we kind of had headwinds and tailwinds in the portfolio, which is the point of diversification,” Graham said. per cent return.
Silas Brown and Kat Hidalgo of Bloomberg report Florida pension to offload up to $4 billion of private credit: The Florida State Board of Administration is looking to sell a bundle of private credit stakes worth as much as $4 billion in what would be one of the largest deals of its kind, according to people with knowledge of the matter.
Invested £93 million in a debt facility to Vårgrønn, owner of a 20% stake in Dogger Bank Wind Farm, which is an offshore wind farm currently under construction, located off the coast of the U.K. The mandate will target investments in Canadian buyout and growth funds, secondary investments and direct co-investments.
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