POWERED BY THE BELIEF THAT PRIVATE CAPITAL IS DESTINED FOR FURTHER, IPEM WILL DELIVER 5 BEST-IN-CLASS EVENTS ON 3 CONTINENTS. IPEM is more committed than ever to creating new channels to support the ever-changing private markets industry and, therefore, announces the event schedule for 2024 and beyond, designed to foster regular connections within the private equity ecosystem.
GP-led or continuation funds are set to be the next area of focus for Sequoia Heritage, as it looks to invest in complex opportunities. This will be the private investment firm’s second foray into PE secondaries, having established Pinegrove Capital Partners last August with Brookfield to acquire stakes in VC funds. This new investment sees Sequoia Heritage continue its journey by pledging upwards of $200 million to Cody Kittle’s RenWave Kore, whose inaugural fund will invest in continuation fund deals; specifically complex situations where the assets are difficult to value, and which GPs feel have further value to unlock. This is just the latest of many more chapters, as the GP secondaries marketplace builds its heritage.
Cordillera Investment Partners have raised $62 million for their inaugural fund targeting acquisitions of a different kind: aging whiskey barrels. The Whiskey Opportunities Fund is getting into the spirit of things as it taps in to the growing demand for premium whiskey assets, referred to as the “Bourbon Boom”. It’s certainly a more attractive liquidity proposition for investors to consider. Moreover, the uncorrelated nature of esoteric assets to broader market forces offer a useful diversification option, with the “super premium” category of whiskey enjoying a 129% volume growth in the last five years. How do you like yours…Neat or on the rocks? Slàinte!
The wisest investors know where to spot the best opportunities irrespective of charging market conditions. And it that sense, Blue Owl Capital is no exception. Despite expectations that the US will see interest rate cuts this year, the firm’s co-chief executive, Marc Lipschultz, still expects private credit to enjoy strong demand. Given the floating rate nature of private lending, any rate cuts will likely see adjustments to expected returns, but the spreads on offer will still catch the eye of investors. And with over $200 billion raised in private credit funds last year, there is plenty of capital for managers to use, and swoop in on PE-backed companies seeking out alternative financing options. Rate cuts are inevitable. But private credit is still capable of soaring higher.
Francesco GIULIANI, Managing Director, OAKTREE CAPITAL joined us at #IPEMCANNES2024 TV Studio for an interview. Watch it, comment it & share it, and stay tuned for the next ones. Sponsored by: IPEM Cannes 2024 TV Studio InterviewsBecome part of the IPEM CommunityWe help foster and engage the Private Capital community internationally through our live and…