Blackstone Strategic Partners

SQ Capital, founded by Mustafa Siddiqui, will focus on mid-market secondaries opportunities.

Secondaries fundraisers find success through specialisation.

While H1 2024 did not see a large-scale fund close, several vehicles with hefty targets remain in market.

Selling a minority interest to a dedicated buyer can boost your next flagship fundraise.

Blackstone’s move to combine its GP stakes and secondaries businesses raises questions about how players in both markets should address potential conflicts of interests.

Money continues to flow into this most undercapitalised corner of private equity.

Blackstone’s decision to fold its GP Stakes unit into Strategic Partners underscores the clear synergies between the two strategies – though a few questions remain.

Half-year fundraising dropped by a fifth year-on-year to $315.5bn across just 508 vehicles that held final closes over the period.