Kirk Falconer
Ranjan, based in the firm’s London office, inherits a much more extensive private equity business than existed just two years ago.
There's a shift in the ongoing dynamic between LPs and GPs, with the former rediscovering leverage as a result of the sluggish market.
Schorr, who left OEP this month, is expected to remain 'an active technology investor,' sources said, with the aim of launching a new private equity firm 'in the very near future.'
“The OceanSound story is a compelling and differentiated one and there is no substitute for having an internal investor relations executive to tell that story to the marketplace,” managing partner Joe Benavides said.
Blackstone Tactical Opportunities Fund IV raised $4bn in side-car capital, sources told Buyouts, adding to the $5.2bn secured in the vehicle's close last summer.
Sotirhos will lead the investor relations team and co-investment process, with a focus on broadening the LP base and expanding into new markets in Europe, the Middle East and Australasia.
The impact of recent consolidation across alternative assets is being felt in GP stakes portfolios, which have grown substantially in the past decade.
Ontario Teachers' creation of a dual CIO system may be a harbinger of change among large institutions with major exposure to alternative assets.
ICV Capital Partners IV was earning a 2.16x net multiple and a 23.88% net IRR as of March 2023, according to pension documents.
The Chicago shop, a family and founder-oriented merchant bank, wrapped up BDT Capital Partners Fund 4 this month, ahead of a $13bn target, sources said.
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