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.

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.

Private markets, particularly private credit, have been the buzz of the institutional investing industry as the insatiable hunt for yield continues.

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.

The Pritzker Organization, the family office of Hyatt Chairman Tom Pritzker, is launching what would be one of the largest venture funds in Chicago.

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.