Secondaries Fundraising
Have these groups been able to raise third party capital? I've heard they are struggling to get LPs and are having to use their parent company's balance sheet.
-Manulife -TPG GP Solutions
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Can't speak to those specific fundraises but a lot of time firms will invest limited outside capital and use their balance sheets to prove out the strategy and to get a track record in the new strategy. After they can point to investments and returns then they'll go externally and raise a real fund.
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