Private equity underwriters (PEU) found a way to move stale investment merchandise.
AInvest reported yesterday:
Goldman Sachs’ asset-management arm has launched a $10 billion hybrid capital fund and a $15 billion secondaries fund to support private equity clients struggling with exits in a muted M&A and IPO environment.
These funds aim to provide liquidity through continuation vehicles, which extend holding periods for portfolio companies, and structured equity transactions that unlock value without relying on traditional exits
Today Seeking Alpha reported:
Carlyle Group said on Thursday that its unit, Carlyle AlpInvest, has raised $20B for its global private equity secondaries strategy.
How many Carlyle PEU holdings will make their way in Carlyle AlpInvest secondaries? It is common for the PEU boys to be on both sides of a deal. It's not close to arm's length, especially with spongey valuations and the opportunity to generate deal fees from two different sides.
Layers and layers of self dealing is new rage in American culture. From a secrecy standpoint the PEU boys do it best. TechGods and CryptoBros are a quick study, proving they can rapidly scale self dealing. But they love to brag whilst garnering attention and adulation for their genius moves.
All three are shameless in their gross excesses of taking. Beware the takers for their bounty is never enough.
