Vista sells majority stake in Fusion Risk Management; Hunter Point collects $2.6b for debut GP stakes fund

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Vista sells majority stake in Fusion Risk Management; Hunter Point collects $2.6b for debut GP stakes fund

Morning Hubskis!

As we explore the possibilities of a portfolio of fund stakes being sold out of the SVB bankruptcy, we’re also wondering if anything will come out of First Republic. The flailing bank, once the haven of wealthy individuals, is seeking more capital from other banks to help prop it up, CNBC is reporting this morning.

To see my analysis, subscribe to PE Hub and get the premium edition of the Wire!

And check out Buyouts' coverage of SVB Capital, especially its $10 billion fund-of-funds operation, which has stakes in some of the biggest venture funds out there.

Staffing

New Mountain, which is back in market with its next flagship pool, made a majority investment in specialty staffing company ALKU. Existing investors FFL Partners, WestView Capital, ALKU founder and CEO Mark Eldridge and company management are reinvesting alongside New Mountain, according to a statement.

Look! An exit!

Vista Equity is selling a majority stake in its portfolio company Fusion Risk Management through an investment from Great Hill Partners. The firm invested in Fusion through its small-cap focused Endeavor fund in 2019.

First-timer

Hunter Point Capital, led by ex-GSO chief Bennett Goodman and ex-JC Flowers exec Avi Kalichstein, has collected about $2.6 billion for its debut GP stakes fund, which is one of the largest first-time funds ever raised. Read more here on Buyouts.

That’s it for me! Have a great rest of the day. Hit me up with tips n’ gossip, feedback or book recs (I’m re-reading Bleak House after a lawyer ticked me off the other day) at cwitkowsky@buyoutsinsider.com or find me on LinkedIn.

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

State Teachers Retirement System of Ohio selected Callan to replace Cliffwater as its alternative investments adviser while still weighing options for its total fund consultant. (Buyouts)

The portfolio manager overseeing infrastructure investments for the Alaska Permanent Fund Corporation has questioned the benefit to LPs of seeing infrastructure GPs regularly team up together to secure large deals. (Infrastructure Investor)

The speed at which trees grow and carbon credits can be generated in Latin America is a big draw, while some LPs seek alternative emerging markets to China. (Agri Investor)

Increasing interest from institutional investors in secondaries has not yet materialized in transaction volumes, writes James Jacobs, head of real estate for Lazard’s private capital advisory group. (PERE)

LP-GP alignment and how incentives can impact GPs’ behavior are front of mind for institutional investors as the industry makes changes to its investor base, according to Jennifer Choi, chief executive of the Institutional Limited Partners Association. (Private Equity International)

In the second episode of Second Thoughts, a bi-monthly podcast from Secondaries Investor, senior reporter Madeleine Farman and senior editor Adam Le discuss some of the key findings from the GP-led Secondaries Report 2023, with special guests Michael Hacker, global head of portfolio finance at Carlyle’s AlpInvest Partners, and Harold Hope, global head of secondaries at Goldman Sachs Asset Management.

Paris-based Meridiam, a sustainable infrastructure manager with an estimated €17 billion in assets under management, has sold a 20 percent stake in the business to Samsung Life Insurance. (Infrastructure Investor)

The trend of private wealth becoming more active in investing in commercial real estate is set to continue in 2023 as institutional investors become more cautious amid market uncertainty, according to data from MSCI and Knight Frank. (PERE)

Fiera Real Estate UK has launched an open-ended real estate debt fund with £100 million ($125 million; €113 million) of seed commitments. (Private Debt Investor)