People Moves

Six senior people left buyout firms for operating companies, Cloudflare among them

Six senior people left tracked buyout firms for operating companies this week. The firms kept hiring operators anyway.

The private equity operating bench doubles as a recruiting pool, and this week the companies did the recruiting. Six senior people moved from tracked firms into operating companies, including Christian Smith, who went from operating partner at TCV to President of Revenue at Cloudflare, and James Rothstein, an operating partner at Lee Equity Partners who became President and Chief Executive of i-PRO Americas on 1 November.

SEI's Carlyle fund charges 0.75%. The prospectus puts the total at 3.05%.

The new SEI Carlyle Private Markets Fund lists a 0.75% management fee. Its own fee table puts net annual expenses at 3.05%, most of it charged inside the underlying funds.

KKR's record fee earnings now include roughly $220 million it used to report elsewhere

KKR reported record fee related earnings up 27%. Strip out a reclassification and the like-for-like growth is closer to 6% to 11%, with capital raised down 41%.

Microsoft did not update its 30 million Copilot seats. It cited credits.

Microsoft last gave a Copilot seat count in July. This quarter it gave multiples with no base, and a price list that now includes a meter.

Brookfield said fundraising shows no signs of slowing. It slowed 17%.

Fundraising fell 17% on a year ago and 68% on the second quarter. The fee-bearing capital growth rate sits on a restated base.

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SEI's Carlyle fund charges 0.75%. The prospectus puts the total at 3.05%.

KKR's record fee earnings now include roughly $220 million it used to report elsewhere

Microsoft did not update its 30 million Copilot seats. It cited credits.

Brookfield said fundraising shows no signs of slowing. It slowed 17%.