Mubadala Capital acquires minority stake in $5bn secondaries manager LSV Advisors
Mubadala Capital has acquired a minority stake in New York-based secondaries investment manager LSV Advisors, expanding its exposure to the growing market for private equity continuation vehicles, according to a report by Bloomberg. LSV Advisors, founded in 2005 and managing approximately $5bn in assets, specialises in single-asset continuation funds. LSV founder and chief executive David Tisch…
Mubadala Capital, a prominent investment firm with assets exceeding $60 billion, has recently acquired a minority stake in LSV Advisors, a New York-based secondaries investment manager. This move comes as the market for private equity continuation vehicles continues to expand, according to a Bloomberg report. LSV Advisors, established in 2005 and currently managing approximately $5 billion in assets, specializes in single-asset continuation funds.
David Tisch, the founder and CEO of LSV Advisors, announced that the firm intends to reinvest a significant portion of the proceeds from the transaction into new transactions. This strategic decision is aimed at supporting LSV's expansion, as there is a growing demand for GP-led secondary solutions. It is estimated that around 125 continuation funds will enter the secondary market during the fourth quarter, with most of these single-asset vehicles expected to be valued below $1 billion.
Mubadala Capital, known for its strategic investments in specialist alternative asset managers, acquired a 42% stake in credit manager Silver Rock Financial last year. The firm is also exploring further partnerships in infrastructure, structured finance, and hybrid credit. For the LSV transaction, Mubadala Capital received guidance from Evercore, while Houlihan Lokey provided advisory services to LSV.
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