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Losing out: A large hedge fund, Select Equity, that built a small buyout operation needs a new private equity chief after the executive it brought in to run the strategy stepped down earlier this year, months after the group’s debut private fund closed. Check out Buyouts report here

Market calling: Banner Ridge Partners, founded by veterans of Siguler Guff’s secondaries business, raised $300 million for an inaugural primary fund to invest in distressed, special situations and credit strategies. LP appetite for distressed fueled the fundraise, according to Banner Ridge managing partner Anthony Cusano. Read Buyouts story here.

 

Sexual Harassment: BlackRock is under fire for claims made by former and current employees about their experiences at the world's largest asset manager. The nine-month long investigation by Institutional Investor includes an apology by senior executive, Mark Wiedman, who made inappropriate comments at events. 

PE Deals

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They said it

 

From the perspective of needing to put money to work, foreign investors are getting a better entry point.”

 

Josh Lohmeier, portfolio manager at asset manager Aviva Investors said to WSJ on the recent faltering of returns on investment grade bonds. 

Today's letter was prepared by Karishma Vanjani

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