Rafaella Ostier’s Post

🚨Wells Fargo sells $2 billion of private equity investments The investments were in certain funds managed by Norwest Equity Partners (NEP) and Norwest Mezzanine Partners (NMP). They were sold to a group of buyers that included private equity firm The Carlyle Group’s unit AlpInvest Partners, Atalaya Capital Management, Lexington Partners Partners and Pantheon. Lazard advised Wells Fargo on the deal. Wells Fargo CFO Mike Santomassimo stated: “With this transaction, we are continuing with our strategic efforts to focus on Wells Fargo's core businesses and customers". Lenders have been looking to improve efficiency and scale back less important bets, to better navigate the uncertainty as the Federal Reserve tries to engineer a soft landing for the U.S. economy.

We are thrilled to announce the expansion of our Capital Solutions Group with key hires from the Tradition Private Markets Secondaries team. Joining us are: + Maulik Patel as Managing Director and Head of Private Market Secondaries (London) + William Arnold as Managing Director (London) + John Corley as Director (New York) + Badran E. as Vice President (London)   Paul Derek Buckley, Managing Partner and Co-Founder of FIRSTavenue, said: "We are excited to announce a significant expansion of our secondaries team, which will enhance our ability to provide comprehensive investment solutions to both our GP and LP clients. The secondaries market continues to scale and expand into new areas – notably private credit and private infrastructure. There are strong parallels here to the development of the derivatives market alongside public debt and equity markets from the 1980s. Like the derivatives markets, the private fund secondaries market is expected to have a material and lasting impact on the underlying primary fund placement market.”   Welcome to the team!   Full press release: https://lnkd.in/eZdkNYtT   #PrivateEquity #PrivateCredit #RealAssets #Secondaries #CapitalSolutions #FIRSTavenue #TeamExpansion

FYI for observers of PE markets - an emerging trend. The historically illiquid PR market has found a new path to tradability through the PE secondaries market and "continuation funds". The secondaries market was once a niche market characterized by distressed sellers looking to exit certain long-term difficult-to-exit positions. It has since become an active marketplace. #mergersandacquisitions #privateequity

Private Credit, meet “higher for longer.” Advisors and investors may be wondering where else they can go. At Blackstone, we believe current macroeconomic conditions have the potential to create a favorable market for #privatecredit. A must-read piece from my partners. Joseph Zidle and Jonathan Bock tells you more. https://lnkd.in/e92ZnfAk #BuildWithBlackstone #AltsMoveToCore #PrivateCredit #BlackstonePrivateWealthSolutions #Blackstone

Could not agree more. More ways to unlock liquidity will surface through secondaries and other forms of innovation as long as the IPO markets remain dormant.

Another day, another new entrant into private credit! Former Goldman Sachs Group Inc. partners Tom Connolly and Mike Koester are betting on one of the hottest corners on Wall Street for their next act. The New York-based duo have co-founded a new firm, 5C Investment Partners, that aims to capture a slice of the burgeoning private credit market, where alternative asset managers are increasingly displacing banks by providing multi-billion financings to companies. 5C, which describes itself as a credit-centric alternative investment firm, will be initially focused on the US, with scope to expand in Europe. Story by Gillian Tan https://lnkd.in/d8q5zdPq #privatecredit #directlending

Morgan Stanley and Apollo Global Management, Inc. Executives Launch Credit Secondary Firm FoxPath Capital Partners aims to capitalize on the need for liquidity among investors in private asset classes. As the primary side of private credit garners increasing attention and capital, the challenge of an oversupply of capital seeking limited opportunities is inevitable. This scenario is likely to catalyze the emergence of the private credit secondary market. https://lnkd.in/gqMJWatV

At GB Wealth Inc. our new chapter has really just begun. We are going beyond traditional diversification. Call it Next-Gen All-Weather. We are building a smoother journey. We believe people do business with people. You don't buy a fund, you hire a person (h/t Havener Capital Partners) "No one ever made a decision because of a number. They need a story. --------------------------Daniel Kahneman, economist In the coming months, we are humbly listening to our investors goals, needs and risk budgets. #hedgedequity #lowvolatility #goalbasedinvesting #alternativeinvestments #riskmanagement

The secondaries market has grown 100-fold in the 23 years since Verdun Perry began working in it. And he expects the growth to continue. "I would argue that between now and 2030, this market will go from $130 billion in size to over $300 billion," Perry told PE Hub's Rafael Canton. "In addition to the diversified LP-led secondary market, you have an emerging GP-led secondary market where GPs are choosing to hold on to their best quality assets longer and they’re using what’s called a continuation fund vehicle to allow their limited partners to either elect to continue the journey or to sell to groups like me in a secondaries transaction. That’s coming online and will drive even more volume." Read the interview for more insights, including Perry's thoughts on making the #privateequity industry more inclusive.

Marcus & Millichap CEO, Hessam Nadji, recently sat down with Schwab Network to discuss how the CRE market is still calibrating to elevated interest rates. He also dove into the following questions: Which CRE property types have the strongest performance? The financing climate - how are investors adapting to tighter lending? How is the CRE market disruption creating new opportunities for investors? In marking the 10th anniversary of its IPO this month, what is Marcus & Millichap’s strategy in the current market? To watch the interview in its entirety, click here: https://buff.ly/3QyvfTx. #thekinggroup #marcusmillichap #california #longbeach #realestateinvesting #CRE #multifamily #realestateinvestor #financefriday #commercialrealestate #schwab #schwabnetwork #HessamNadji #financing #interestrates #investmentopportunities #IPO #stockmarket #NYSE