Stockbridge’s Post

Expect More Private Credit M&A As Janus Henderson Completes Buyout of Victory Park Capital Private credit managers are in a race to get scale. We are seeing this from larger fund raises and from M&A. Expect more consolidation as niche players find it harder to originate deals. Read the article (free): https://lnkd.in/gHEYjgvS #privatecredit

Big news, indeed, Jessica. Three reasons why: 1. Primary Lens and Skillset SQ Capital brings a primary investment lens and skillset, assessing secondary opportunities with the fundamental rigor of a GP making an original investment. This is a step-function difference from a previous approach to secondary investment that relied largely on valuation arbitrage (buying positions below their reported NAV). 2. Leveraging Data and AI SQ's founding team includes an Operating Partner focused on Data and Artificial Intelligence. Such tools can support the fundamental analysis of companies and LP stakes in new and breakthrough ways. 3. Catalyzing Exits for GPs Private equity sponsors (GPs) today hold thousands of companies for which exits are overdue. Firms like SQ can play a crucial role in reducing the backlog of exits, creating liquidity for LP investors, and thus continuing to advance the industry. #privateequity #secondaries Columbia Business School Private Equity Program Columbia Business School; Digital Future Initiative at Columbia Business School Mustafa Siddiqui ; Michael Petryczenko; Naiel Iqbal

Discover the strategic movements in the real estate market as Howard Hughes Holdings Inc., shared by Morningstar, assesses a significant buyout proposal from billionaire Bill Ackman's Pershing Square Capital Management, L.P. Key stakeholders and market watchers will find interest as the company reviews options between remaining public or going private - an impactful decision following the company’s fluctuating stock prices and recent business spins-offs. https://lnkd.in/eQgEdBCN #LBO #Buyouts

Barbarians at the Gate: The Epic LBO Battle 💼📚 Welcome to Day 50 of our 60-day Financial Fact Series! 🌟 Barbarians at the Gate, written by Bryan Burrough and John Helyar, chronicles one of history's most famous leveraged buyouts (LBOs)—the 1988 battle for RJR Nabisco. This deal saw private equity firms, led by Kohlberg Kravis Roberts & Co. (KKR), engage in a fierce bidding war to acquire the giant conglomerate. The LBO, valued at $25 billion, became symbolic of the excess and greed of the 1980s corporate world. The book exposes the intense rivalries, backroom deals, and high-stakes strategies for using huge amounts of borrowed money to take over a company. 💸🔥 It remains one of the most gripping stories about the dangers and power of leveraged buyouts. #FinancialSeries #BarbariansAtTheGate #LeveragedBuyout #RJRnabisco #PrivateEquity #CorporateGreed #KKR

Sila Realty Trust Inc., a non-traded real estate investment trust focused on investing in U.S. healthcare properties (and formerly known as Carter Validus Mission Critical REIT II), announced that it intends to pursue a listing on the New York Stock Exchange in the late second quarter or early third quarter of 2024. Sila Realty Trust, Inc. CARTER VALIDUS MISSION CRITICAL REIT II, INC. Michael Seton #SilaRealtyTrust #REIT #realestateinvestmenttrust #healthcare #alternativeinvestments #NYSE #listing #sharedrepurchaseprogram

It’s fair to say I didn’t expect to be sharing this news within 90 days of starting my new role… but gosh, I’m delighted to be doing so!! Last week, Oaktree Capital Management, L.P. announced the purchase of Close Brothers Asset Management, with a view to setting it up as an independent and standalone business. We have, and always will be, a client-centric organisation that deeply cares about our customers, colleagues and business partners. The new onwership structure will allow us to fast-track our transformation programme, providing a better and more rewarding experience to all our stakeholders. Unsurprisingly, our future plans will focus on organic growth in the more immediate term, while maintaining a close interest on other opportunities within the wider wealth management sector. For now, we would like to thank the wider Close Brothers Group for their custodianship of our business over the last few years, and wish them much success ahead. #wealthmanagement #privateequity #financialplanning https://lnkd.in/ePYv6BZf

You don't want to miss the top 5 most popular private equity stories this week 👇 1. Permira brings in Anish Patel to co-lead newly-established climate investing team 2. Lexington anchors $1.2bn MetLife fund of funds by leading secondaries sale process 3. Apollo leads investment in single-asset continuation vehicle for JF Lehman’s Puris 4. Secondaries surge continues as buyers look to snap up small, mid-sized buyout fund stakes 5. Norwest Capital raises $1.4bn across new fund pair, about $1bn less than for predecessor vehicles #PrivateEquity 

Yesterday, I attended the market opening at TMX as Brompton Funds launched their new ETFs: the Brompton U.S. Cash Flow Kings ETF (TSX) and Brompton Canadian Cash Flow Kings ETF (TSX).   The AUM of ETFs in Canada has grown significantly from $156 billion in 2018 to over $420 billion in 2024, with the number of ETFs now exceeding 1,100 in the Canadian market. While ETFs provide investors with easy access to diversified, high-quality portfolios at a low cost, the rapid increase in the number of ETFs can make it challenging to analyze and research effectively.   At Canaccord Genuity, our team is actively involved in selecting active ETFs that offer solutions not easily replicated through individual stocks or passive strategies, aiming to enhance returns and reduce risk. Brompton’s free cash flow ETFs are prime examples of such strategic investments.

The World's Largest Private Equity Firm, Blackstone, Beats On Revenue & Earnings — Strong Momentum In Private Credit & Private Wealth Businesses 🤯 Here's a quick breakdown of their earnings: - EPS: $0.11 (est $0.96) - Revenue: $3.69B (est $2.44B) - AUM $1.06T (est $1.07T) - Total Segment Revenue $2.55B (est $2.44B) - Inflows $34.04B (est $39.9B) Stephen A. Schwarzman, Chairman and Chief Executive Officer, said: “Blackstone reported strong first-quarter results, highlighted by accelerating momentum in our private credit and private wealth businesses. We are seeing a strengthening transaction environment and attractive opportunities to deploy capital. We are well positioned to navigate today’s dynamic market landscape, with a portfolio concentrated in compelling sectors and nearly $200 billion of dry powder available to invest.”

🌟 𝐁𝐥𝐚𝐜𝐤𝐬𝐭𝐨𝐧𝐞 𝐄𝐱𝐩𝐚𝐧𝐝𝐬 𝐢𝐭𝐬 𝐄𝐧𝐞𝐫𝐠𝐲 𝐈𝐧𝐟𝐫𝐚𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞 𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 🌟 Today we explore Blackstone Credit & Insurance (BXCI), the world’s largest alternative asset manager with $1.1 trillion in AUM, which has announced a transformative $3.5 billion investment in partnership with EQT Corporation (NYSE: EQT). BXCI will acquire a 49% equity stake in a joint venture focused on EQT’s interstate pipelines, unlocking growth potential for key projects like the Mountain Valley Pipeline expansion. More highlights about this $8.8 billion valuation deal below 👇 #PrivateEquity #EnergyInfrastructure #AlternativeInvestments #Blackstone #EQT