Chris Witkowsky
The firm has invested in Coupang, Carvana, Databricks, Flipkart, Discord, Stripe and Wiz.
Contrary to a report in the Financial Times that public market turmoil is spurring large institutional investors to explore selling out of private market positions, most LPs are not likely to make such reactionary decisions to sell at steep discounts.
With the possibility that exits will not be making a comeback this year, PE’s IR professionals have quite a challenge ahead of them (especially those fundraising, but not just them).
'So we like GPs that have an exit committee or a real disciplined process around managing exits,' Kadziela explained during an interview on the sidelines of PEI Group's NEXUS 2025 conference.
LA Fire and Police Pension is not alone in sudden concern for an acronym that has become a flashpoint of controversy in America’s culture wars.
GPs with funds in the portfolio include Altman Capital, an early-stage firm led by Jack Altman, the younger brother of OpenAI chief executive Sam Altman.
In a conversation with Warburg Pincus CEO Chip Kaye, Eneasz Kadziela, the head of private equity with the New York City comptroller, said the frantic fundraising pace of 2021 was something of a burden for LPs.
David Berry has launched Bedford Bridge with his brother, entrepreneur Eric Berry, to invest in healthcare technology start-ups, including those focused on artificial intelligence, longevity, deep technology and data-driven care.
'Given that we don’t think the fundraising pace is going to pick up dramatically in 2024, then we will continue to take our time to ensure we’re backing the right partners while getting appropriate terms – and we’ll weigh our options if that’s what is required.'
The deal, which hit the market in November, could total more than $1 billion depending on its final structure, sources say.