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Credit fund secondaries has been attracting more attention in recent months, with firms including Pantheon and Tikehau Capital plotting forays into the strategy.
For Strategic Partners’ global head Verdun Perry, debt secondaries is a strategy still too immature for serious consideration.
“If you look at the size of [the credit market] and the ageing of that strategy, it’s not quite ripe for secondaries yet – certainly not for a dedicated programme of size,” Perry told Secondaries Investor in an interview at the firm’s New York headquarters.
“The question that I ask myself is: will there be a time and, if so, when will it be right for a dedicated secondaries programme focused on credit funds? We’ll see. It’s unclear, but today it’s not the time. It’s still relatively small.”
The Blackstone unit has previously acquired stakes in credit funds, and Perry said the private debt market could mature to a point where a dedicated strategy was...
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Among the contenders, in our humble opinion, would have to be:
(1) The fact that L.A. has suddenly become a tech town. When Google takes a half-million-square-foot shopping mall and decides to turn it into a tech campus, yes, that’s kind of a big deal.
(2) The fact that L.A., the film and TV capital of the world, has seen a number of important trades, with Hackman Capital Partners swallowing up studios like they were after-dinner mints, the latest being the $650 million acquisition of MBS Media Campus from Carlyle. And the fact that Warner Music Group acquired the Ford Factory in Downtown L.A. Pretty compelling stuff.
(3) There’s also the ongoing question of affordability in this less and less affordable metropolis. The State of California certainly seems to be taking the issue of housing pretty seriously, with Gov. Gavin Newsom proposing the most ambitious affordable housing program in the state’s history.
(4) One would have to be particularly out...
Several times a year, Blackstone surveys a subset of our private equity portfolio companies’ CEOs about the challenges and opportunities their businesses are facing. It’s just one example of how we gain insights from the scale and breadth of our portfolio.In the latest episode of the Blackstone Podcast, we bring some of those insights to our listeners. Prakash Melwani, chief investment officer of Blackstone’s private equity group, joins Chief Investment Strategist Joe Zidle to discuss Blackstone’s CEO survey and what it can tell us about corporate confidence and activity today. * * * * * The views expressed in this commentary are the personal views of the speakers and do not necessarily reflect the views of The Blackstone Group Inc. (together with its affiliates, “Blackstone”). The views expressed reflect the current views of the speakers as of the date hereof...
Last Wednesday evening, the Singapore Global Network had the pleasure of hosting Mr Gautam Banerjee, Senior Managing Director and Chairman of Blackstone Singapore, at our Singapore Speakers Series event in Sydney! Mr Banerjee shared insights on Singapore’s finance industry through the years, and why global investment firm The Blackstone Group decided to open an office in Singapore. Mr Banerjee also shared his personal Singapore story and insights on education, social cohesion and inequality in Singapore, and addressed questions on the slowing economy, impact investing and how we can continue to upskill in the digital economy. Here are some highlights from the event.
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- Business Insider sat in on an internal competition at The Blackstone Group this week where associates, product managers, and other staff pitched senior dealmakers on charitable donations. The process gave us insight into what it takes to impress senior leaders at the firm.Judges included Joan Solotar, the head of Blackstone's private-wealth-solutions business; David Blitzer, the head of its tactical-opportunities unit; and Sean Klimczak, the head of its infrastructure group.At one point, Stephen Schwarzman, the firm's billionaire founder, interrupted a pitch to say hello and wish everyone well. Visit BI Prime for more stories.
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