And so marks the end of another action packed year. Although not exactly a (snow) flurry of activity, deal valuations and activity have show signs of picking up in 2024. And whisper it quietly, but the IPO markets are also beginning to thaw out. GPs have listened to investors and sought ways to increase distributions, with secondary deal volumes forecast to end the year between $150 and $175 billion.
Relax. X-hale. Private markets have once again proved why they remain so popular, with news that Elon Musk’s X.AI has successfully raised $6 billion in funding. It is the latest technology start-up company to delay floating on the public markets via an IPO – for so long the traditional exit route but, in recent times, a less desirable option as companies choose to stay private for longer.
Impact investing, private credit and private wealth (a three body opportunity!) are all set to feature at IPEM Cannes | Wealth 2025. It therefore seems fitting to share the news that Blue Earth Capital has raised $113 million for its inaugural private credit impact fund.
Okay, time for a frank admission: Franklin Templeton is opening up access to wealth investors with a new private equity secondaries fund. The global asset manager has been given the green light by the Luxembourg regulator – the CSSF – for an open-ended product which it will co-advise alongside Lexington Partners.
It’s been quite a Bainanza this week with Bain Capital completing a $9 billion fundraise for its Global Special Situations Fund II. This puts Bain Capital in the vanguard as one of the world’s largest special situations investors as it looks to provide flexible capital solutions to companies and entrepreneurs.