A record $16 billion raised, carry guidance cut to 20-25%, and gates on the funds clients most want out of. The fee machine is fine. The exit machine is guiding for 2027.
Partners Group opened September with the best fundraising half in its 30-year history and a fresh explanation for why the money flowing the other way keeps slipping into next year.
Apollo hired three managing directors, one of them from Carlyle. Advent's head of tech strategy now works at the OpenAI venture Advent helped fund.
GTCR and Elliott are paying $7.75 a share for CCC. Advent sold its final stake last November at $7.79, down from a $10 SPAC-era price.
Proofpoint will pay $49.75 a share for Varonis, 52% above the June close. The multiple is 53 times free cash flow, and the first-half cash flow fell.
Fee-generating assets rose €40bn in the quarter. Strip out the Coller acquisition and the gain is about €6bn.
