Blackstone becomes latest blue-chip manager to tap secondaries market
Blackstone becomes latest blue-chip manager to tap secondaries market
"Within these transactions, the acquiring vehicles typically pay lower fees and carried interest to the GP than the standard 2 and 20 percent respectively that a third-party GP would take. This means lower gross to net spread for the backing secondary investors, allowing them to pay a higher price.
Yaron Zafir, Head of Secondaries at Rede Partners, was quoted by Private Equity International in the light of Blackstone's single asset transfer for Phoenix Tower International, a wireless infrastructure operator.
