Marine Cole

The Chicago-based firm’s latest vehicle, which does not have a performance hurdle and has slashed its management fee, is targeting more than $7bn.

The terms of the fund, which is targeting $8.5bn and is nearing a final close, are disclosed in documents prepared for LACERS.

Private equity funds continue to do better than public markets but the extra return has shrunk by more than half since 2011, according to PEI 300 Bison PME Alpha data.

The firm, which posted a loss in the first quarter, had one of its busiest capital deployment quarters ever.

The firm raised $670m for its new Blackstone Core Equity Partners vehicle in Q1 and is likely to overshoot its target.

The firm’s economic net income decreased by 77% compared to a year ago, driven by market volatility and lower carried interest.

New Yorkers are queuing at the polling stations on Tuesday to vote in their presidential primaries, but Private Equity International readers have already chosen their favourite presidential candidates in a survey conducted last week.

John Doerr, who joined the venture capital firm in 36 years ago, will focus on developing the next generations of partners.

Andrew Caspersen, who focused on advising secondaries transactions, including GP-led restructurings, allegedly tried to defraud two institutional investors of more than $95m.

A top priority included in the SEC’s 2017 budget request is to hire 127 additional examiners, primarily to conduct extra tests of investment advisors, White told the US Congress this week.