BlackRock bets on infrastructure in $12.5bn deal

BlackRock has agreed to acquire Global Infrastructure Partners, a New York City-based infrastructure fund manager, in a $12.5 billion cash-and-stock deal. The GIP management team, led by Bayo Ogunlesi and four of its founding partners, will lead the combined infrastructure platform. BlackRock has also agreed to appoint Bayo Ogunlesi, GIP founding partner, chairman and CEO […]

Minnesota commits $2.6 billion to private equity, private credit

Minnesota State Board of Investment, St. Paul, committed a total of $2.6 billion to 21 alternative investment funds from the state’s $94.1 billion combined defined benefit plan asset pool, a report showed. Private equity commitments of $150 million each were awarded to Advent International; Blackstone Capital Partners IX and Blackstone Growth II; Brookfield Asset Management’s […]

The impact of the Russia-Ukraine conflict on real assets

Investors in real assets are taking a cautious approach as the Ukraine-Russia conflict impacts the energy and transport sectors. Russia’s attack on Ukraine has taken financial markets by surprise and its consequences are already having a severe impact upon energy, transport and logistics, stocks and assets. Russian state-owned energy company Gazprom contributed to half of the […]

Jack Dorsey chooses Square over Twitter

Jack Dorsey, the co-founder of Twitter, is stepping down as CEO of the social media company after six years. Parag Agrawal, the company’s former CTO, to take over the role effective immediately. In his resignation letter, posted on Twitter, Dorsey said he wants the company to break away from the vision and control of its […]

Abu Dhabi private equity firm Gulf Capital bets on Asia to outperform U.S., Europe

Gulf Capital is taking companies in its portfolio East as the Abu Dhabi-headquartered private equity firm bets on growth in Asia to outperform U.S. and European markets, its chief executive Karim El Solh said on Wednesday. Gulf Capital, which manages more than $2.5 billion in assets, has been expanding its companies’ exposure to Asia through […]

Blackrock ETF Doubles in days to 2$ billion on commodities

Over six and a half years, a BlackRock Inc. commodity fund never came close to $1 billion in assets. Yet over two days in late May, the ETF more than doubled to $2 billion — and it’s already added another $120 million in June. The iShares GSCI Commodity Dynamic Roll Strategy exchange-traded fund (ticker COMT) […]

TPG Names Winkelried Sole CEO With Coulter to Head Impact Funds

Private equity giant TPG said Jon Winkelried will become the sole chief executive officer as his counterpart, co-founder Jim Coulter, shifts focus to its fast-growing impact investing business. Winkelried, 61, will take on day-to-day operations. Coulter will become executive chairman and lead the firm’s climate initiatives. The centerpiece of that is TPG Rise Climate, a fund he’s […]

Strong Buyout Fund Returns Drive Private Equity Stocks Higher

Over the past decade, as private equity firms like Blackstone, KKR and Carlyle Group have grown into a gargantuan size and raised buyout funds nearing or eclipsing $20 billion, one critique of their cash gusher was that it would inevitably drive fund returns lower. Now, as the U.S. economy emerges from the Coronavirus pandemic and […]

Capital Dynamics Andrew Bernstein on mid-market PE

Why are some managers able to meet their fundraising targets despite the pandemic while others are struggling to reach their targets, and why might firms with proprietary sourcing capabilities be better positioned to take advantage of liquidity-based opportunities at the moment? These topics and more were covered in a recent research paper about trends in […]

Goldman Sachs sharpens push to win Asia SPAC market share

Goldman Sachs is aiming to snare a bigger share of the booming number of Special Purpose Acquisition Company (SPAC) deals in Asia by having senior bankers specifically target these blank cheque transactions across the region. Hong Kong-based Raghav Maliah, the global vice chairman of Goldman Sachs’ investment banking division, leads the initiative together with Vikram […]