Kirk Falconer
The private equity industry continues to face challenges around realisations, according to chief executive Bobby Le Blanc.
Private equity AUM is expected to double in the next five years to reach $270bn, co-heads David Sambur and Matt Nord said at Apollo’s 2024 Investor Day.
Some curtailment of the scope of direct investing, and the reintroduction of fund investing, mark a fundamental shift from the past practice of an innovative Canadian institution.
The Canadian pioneer of institutional direct investing is launching a global private equity funds strategy with long-time exec Michael Graham set to retire.
Getting to 'the next trillion', president Connor Teskey said, will be achieved by enhancing fundraising channels, scaling product offerings and building and buying new businesses.
Big step-ups in the firm's recent fund sizes may be due to greater LP appetite for co-investing as a way to build private equity exposure on a no-fee, no-carried interest basis.
The new flagship offering's target size is 12% larger than Fund IX, which closed in 2021 on $5.6bn.
The flagship fund, targeting $12.5bn with a $15bn hard-cap, is expected to hold a final close in the early months of 2025, sources say.
In taking over from Suyi Kim, Gubbels will become CPP Investments’ second consecutive female private equity head.
The firm raised $68bn in Q2, bringing inflows over the past 12 months to $140bn, Brookfield’s highest ever in a 12-month period.