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Chris Witkowsky

Andy Hayes is part of a broader expansion of Partners Group’s capital raising activities in the US.
TCG straddles the line between venture capital and growth equity, backing young and aggressive companies like Barstool Sports, Exploding Kittens and Goldin Auctions.
The deal is one of the high-profile secondaries in the market this year helping to push activity volumes that some expect to reach record highs by year-end.
Assets slated for a secondaries deal periodically get snapped up by outside buyers before the deals can close, a risk that increases the longer such deals linger in the market without closing.
Crosspoint, which just closed its debut fund on $1.3bn, has a heavy operational focus, a characteristic that helped attract LP attention at a time when many investors were eschewing new managers.
Terms on traditional private equity funds are fairly consistent across the market, though some GPs like KKR are able to command more customized structures on their funds.
Breaching the $1bn mark is a milestone for a firm that prefers to conduct business without much fanfare.
Across the industry, ownership structures are being tweaked or circumvented as many owners find more value in extending holds on businesses they already know.
The firm, which has closed several deals in recent months, is eyeing a first close in May.
Buyouts has been covering the trend of GPs finding ways to hold certain assets longer than allowed under traditional private equity fund structures.

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