Kirk Falconer

Of primary interest will be high-growth tech businesses that prove their mettle 'as the tide goes out,' says Leon Pedersen, CPPIB's new head of growth equity.

The firm's core PE strategy, which since inception has earned a 26% gross IRR, oversaw $32bn of assets at the end of March.

In its Q1 earnings call, Ares said it closed a second special opportunities fund at a $6bn hard-cap and will later this year or early next launch a seventh flagship corporate PE fund.

The issue is most relevant to private equity and the community of US pension plans, president and COO Jonathan Gray says.

Advent's prior flagship fund was showing outsized performance with a 3x net multiple and a 129.4% net IRR as of September.

The firm's co-chief executive says barriers to entry in the private assets industry have gone up.

Blackstone's assets managed are expected to hit the $1trn mark in the year ahead, chairman and CEO Stephen Schwarzman said.

The amount raised provides Fund IV with just under half of its $4.5bn target, reported last year by affiliate Buyouts.

Fund II wrapped up 40% above its initial target and 70% larger than Blackstone’s inaugural GP stakes vehicle, which closed in 2014 at $3.3 billion.

The goal is to provide for stable and predictable cashflows and market leadership positions that result in compounding returns over a longer timeframe, the firm has said.