Weekly Recap | 4.27.25

Please see below for this week's headlines:

• TPG and Temasek buy a substantial minority stake in Cliffwater

• Investcorp's Strategic Capital Group published a white paper diving into succession planning at private market GPs

• Some thoughts from Leonardo Hsu on a chart from Investcorp Strategic Capital Group's latest white paper on GP Stakes (pg. 7 of the white paper)

• Polus Capital Management, which is majority-owned by Mediobanca, is exploring strategic options according to Bloomberg

• Ardabelle Capital announces strategic partnership with and anchor fund commitment from TPG NEXT

• Andrew Siwo, Head of Sustainable Investments and Climate Solutions at the NEW YORK STATE COMMON RETIREMENT FUND, mentions that the LP has an "opportunistic" sleeve for niche investment opportunities which includes GP Stakes

• Axonic Capital is exploring strategic options including selling a controlling stake of the firm, according to Bloomberg

• Lars Larsen Group acquires 25% of Denmark-based private equity Fund of Funds manager, IIP Denmark

• New: Blackstone officially changes its GP stakes strategy name from "Blackstone Strategic Capital Holdings - BSCH" to "Blackstone GP Stakes - BXGP", effective 1Q 2025

• Hunter Point Capital LP's CEO Avshalom Kalichstein joined Bloomberg's Paul Allen to discuss private markets in Japan

• Brandon Sedloff of Juniper Square and Jennifer Stevens of Alliance Global Advisors talk about the GP Stakes boom on The Distribution by Juniper Square podcast

• TA Associates is close to buying a significant stake in Greenwich-based secondaries manager Kline Hill Partners

• Elizabeth A. Browne (GCM Grosvenor Elevate), Pamela Pavkov (TPG NEXT), and Tina Byles Williams (Xponance, Inc.) will be on panels at the CalPERS and CalSTRS conference titled "Catalyst: California's Emerging & Diverse Investment Manager Forum" on May 12-13th

• AMG acquires minority equity interest in Verition Fund Management LLC

As always, feel free to send me news to share with the GP Stakes community (and definitely let me know if I missed anything).

Share this newsletter here: GPStakesNews.com

Have a great weekend!