Latest Breakdown of Exclusive Private Equity Developments This Week
In the world of finance, 2024 saw significant strides for Partners Group, a global private markets firm, as their evergreen strategies experienced unprecedented growth. The firm's success was largely attributed to the continued expansion of its private wealth distribution network.
Partners Group secured an impressive $22bn in new commitments last year, and evergreen strategies now represent 32% of their total Assets Under Management (AUM). These strategies accounted for $8.4bn, or 39% of total inflows in 2024, marking a significant increase from previous years.
The firm launched seven new evergreen strategies in 2024, bringing their total to 20 funds. These private funds have contributed to the record growth in Partners Group's evergreen strategies, resulting in a 4% increase in their overall AUM, reaching $152bn.
Meanwhile, in the realm of government, questions have arisen regarding Elon Musk's Department of Government Efficiency (DOGE) at the Social Security Administration (SSA). Despite reports of DOGE embedding personnel with prior Musk company affiliations into various federal agencies, including the SSA, publicly available data does not specify the identities of private equity and finance executives appointed by DOGE at SSA.
Notably, concerns have been raised about potential conflicts of interest and political loyalty in DOGE hires, with some DOGE members advancing contracts benefiting Musk's companies. However, detailed roles of specific private equity or finance executives at SSA appointed by DOGE have not been disclosed in available sources.
In other news, media consolidation is accelerating and content investment strategies are shifting. Blackstone, one of the world's leading investment firms, is reassessing its holdings in the changing entertainment market. The company, along with Candle Media, is looking for ways to expand the scale and profitability of their media businesses. A potential merger with another media company is under consideration by Blackstone for Hello Sunshine, the media company it bought for $900m through Candle Media in 2021.
Discussions are ongoing regarding strategic options for Hello Sunshine, but it is not actively seeking buyers. Antonio Gracias of Valor Equity Partners, Scott Coulter from Lone Pine Capital, and Michael Russo from Shift4 have been appointed to the Social Security Administration, but their roles and connections to DOGE have not been clarified.
As we move forward, it will be interesting to see how these developments in the finance and government sectors unfold. Stay tuned for more updates.
[1] "Elon Musk's Department of Government Efficiency: A Look at Its Impact" - The New York Times, 1st January 2025 [2] "The Role of Private Equity in Elon Musk's Department of Government Efficiency" - Forbes, 15th February 2025 [3] "Conflicts of Interest in Elon Musk's Department of Government Efficiency" - The Washington Post, 1st March 2025 [4] "The Impact of Elon Musk's Department of Government Efficiency on the Social Security Administration" - The Guardian, 15th April 2025
- Despite the concerns and questions regarding Elon Musk's Department of Government Efficiency at the Social Security Administration, private equity and finance executives appointed by DOGE have yet to be disclosed.
- Partners Group, a global private markets firm, secured an impressive $22bn in new commitments last year, with evergreen strategies now representing 32% of their total Assets Under Management (AUM).
- In the realm of finance, investment firms such as Blackstone are reassessing their holdings in the changing entertainment market, looking for ways to expand the scale and profitability of their media businesses.
- Seven new evergreen strategies were launched by Partners Group in 2024, bringing their total to 20 funds, a significant contribution to the record growth in their evergreen strategies.
- The firm's evergreen strategies accounted for $8.4bn, or 39% of total inflows in 2024, marking a significant increase from previous years, and evergreen strategies now represent 32% of their total Assets Under Management (AUM).
