The moves give stockholders a greater portion of recurring, predictable income as private equity asset sales stagnate due to higher interest rates and jitters over a potential recession. In exchange, the firms’ dealmakers will get a bigger slice of the gains when their investments pay off.
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Rene Benko accumulated the usual trappings on his way to becoming a billionaire: a private jet, a triple-deck superyacht and a 3,000-acre country estate.
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Private markets, particularly private credit, have been the buzz of the institutional investing industry as the insatiable hunt for yield continues.
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The highest average basis point fees paid out by institutional investors in 2022 went to hedge funds-of-funds (107 basis points) and to private real assets (83 basis points), according to the 2023 Investment Management Fee Study from the investment consulting firm Callan.
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The Pritzker Organization, the family office of Hyatt Chairman Tom Pritzker, is launching what would be one of the largest venture funds in Chicago.
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Edinburgh, Scotland-based Souter Investments has made more than 50 deals since being created in 2006, often focusing on established businesses below the radar of the biggest private equity firms.