US Public PE and GP Deal Roundup

This report was updated on October 11, 2024, to correct an investor name in the table on page 23 and on November 19, 2024, to correct a chart in the XLS summary.

Asset managers expand toolbox for a competitive edge

A new era is being ushered in among the seven largest US-listed alt managers, as GPs increasingly target other GPs, with deal counts up 84% YTD and on track to set an all-time record.  

In the thick of the hunt was Blue Owl, which completed its acquisition of Kuvare Asset Management in early July—effectively adding $20.0 billion in AUM, as the manager expands its footprint in the insurance sector.   

Along with the increase of GP mergers, our Q2 2024 Public PE and GP Deal Roundup dives into the uptick in fundraising—43.7% YoY in H1 across all strategies, driven primarily by private credit.