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Core Industrial Partners’ John May ‘bullish’ on North America; Blackstone’s Marcus Felder talks talent

Good morning Hubsters, Craig McGlashan here with the Tuesday Wire.

John May of Core Industrial Partners is the latest private equity figure to feature in our Dealmakers to Watch series, as he tells us how his investment strategy is firmly embedded in what has been dubbed Industry 4.0.

Next we hear from Blackstone’s Marcus Felder, who spoke at PEI Group’s NEXUS 2024 event about the importance of talent for building businesses.

We then finish with a look at the 2024 outlook from KKR’s new Global Wealth Investment Council.

Bullish

John May, the co-founder of Chicago-based private equity shop Core Industrial Partners, talked Obey Martin Manayitithrough his company’s investment approach in the latest of our Dealmakers to Watch series.

Find out more in the subscriber version of the Wire.

Editor’s note: PE Hub has recently launched a new series of profiles called Dealmakers to Watch. We’re featuring private equity professionals as they pivot to new challenges, such as moving to a new firm, launching a new firm, getting promoted to partner, launching an investment strategy, closing a significant deal or some other new endeavor.

Is there someone you’d like to see profiled by PE Hub? Send suggestions to editor-in-chief Mary Kathleen Flynn

Development

Talent is a “key value creator” for Blackstone, Marcus Felder, who leads the Career Pathways program for the PE firm, told PE Hub’s MK Flynnat PEI Group’s NEXUS 2024 event. “We believe that top talent is vital to building strong businesses.”

Sticky inflation

KKR has launched a Global Wealth Investment Council (GWIC), whose members cited sticky inflation and a potential slowdown in consumer spending and job growth as their biggest concerns.

Read more in the full version of the Wire.

Right, that’s all from me today. Chris Witkowsky will be on duty tomorrow.

Cheers,

Craig

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Permira sees “a great runway ahead” for Alter Domus as more and more GPs outsource fund administration, Philip Muelder, partner and head of services, and Chris Pell, principal, told PE Hub Europe.

Lee Gardella is Schroders Capital’s head of private equity, North America. Buyouts sat down with Gardella to chat about the state of the fundraising environment, the increased focus on the lower mid-market and continuation vehicles, how Schroders selects managers and why early-seed venture may be having its moment.

Aïchatou Diop, head of compliance at PAI Partners, tells PE Hub Europe how she discovered private equity and what led her to work in compliance in our latest interview celebrating women in private equity. Diop also shares her thoughts on how the industry can better attract and retain talent.

There has been a definite uptick in the amount of public money spent on infrastructure projects with private backing. But investors have had to get creative to access that capital. (Infrastructure Investor)

Concerns over integrity of demand is one of five barriers preventing nature-based solutions from attracting more investment, according to Catherine Edet, head of ESG at STOA Infra & Energy. (New Private Markets)

In their latest podcast, Secondaries Investor's Madeleine Farman, Adam Le and Hannah Zhang dig deeper into the latest advisory reports, discussing key trends seen last year and how this could translate into dealmaking this year.

AI expert Grace Ge sees her star rise at Amplify Partners: The newly named partner sees lots of opportunity to invest between the foundational model and app layer of the AI stack. (Venture Capital Journal)

LeapFrog Investments is in the process of completing fundraising for its latest flagship offering, which has benefitted from the strong early performance of its first investments, according to global head of investor solutions Yalin Karadogan. (New Private Markets)

The use of generative artificial intelligence creates both opportunities and risks for investors, said Christopher Ailman, chief investment officer of California State Teachers’ Retirement System, at PEI Group’s NEXUS 2024 summit in March. (Private Equity International)

Citco has launched a new fund administration offering that pairs speedy AI data processing with human oversight. (Private Funds CFO)

They said it

“Across our investable sectors, there are almost two million small companies with less than 500 employees. At least half of those, according to the data that we find, are owned by Baby Boomers or families. Many of them don’t have succession planning and so we become a good partner for them because of our resources, our experiences, both as investors and operators.”

— John May, co-founder, Core Industrial Partners