Annabelle Ju
Dyal acquired less than 15% of the Miami-based private equity firm in a deal that reportedly values HIG at $4.5bn.
Stephen Blyth, who resigned after 17 months as CEO of the company managing Harvard University’s $37.6 bn endowment, had sought to improve returns at the fund, which invested about a quarter of its portfolio in real assets as of September 2015.
Blackstone, Kirkland & Ellis, Advent and Onex all returned to their first-place positions in PEI’s 2015 Awards.
Blackstone bought the REIT from its Real Estate Partners VIII fund.
Fee standardisation advocates expect the reported cost of investments to rise in future, which may force some LPs to change their approach to private equity.
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