Rod James
GIP’s Gatwick deal is the biggest single-asset secondaries deal ever, as affiliate title Secondaries Investor reveals its debut list of the largest continuation vehicles.
The vehicle has already made six investments, accounting for 51% of committed capital.
The alternatives asset manager had one of its strongest quarters, with total AUM rising 21% year-on-year to $649bn.
The alternatives giant had said in January it would focus more effort on governance and reputational risk.
At the close of last year, newly formed Hexagon Renewable Energy, managed by Belgian infrastructure manager TTR Energy, acquired a portfolio of 19 French wind projects. The acquisition was backed by a group of large institutional investors led by Crédit Mutuel Capital Privé, the private investment arm of a €930 billion French retail bank. Elm […]
A recent GP-led secondaries deal involving an evergreen structure represents a novel way for infra investors to hold on to assets. The question is whether such transactions can scale.
Stafford expects infrastructure secondaries deal volume to almost double by 2025 to $10bn.
The portfolio acquired from a sovereign wealth fund is probably the largest-ever infrastructure sale, said Blackstone COO Jon Gray.
GP-led processes were used to isolate top performing assets during the bull market, so why not the opposite now?
The fund has sub-vehicles investing in asset classes such as PE, debt and infrastructure, each of which can commit 30% to secondaries.