Institutional Investing

Makena Capital now models 18-year fund lives with capital returns concentrated in years 16-18, reflecting structural shifts in venture exit timelines. a16z's infrastructure team avoided neocloud deals despite sector conviction, citing overheated valuations. The shift suggests infrastructure and B2B funds are extending holds while consumer categories may see renewed deployment.

Tikehau Capital unveiled 2026-2029 growth targets projecting €60B AUM and 45-50% core margins, part of a broader private equity portfolio repositioning wave. The French firm expects €34B net inflows through 2029, 22% above its 2022-2025 period, while rivals like Onex leverage acquisitions to reshape strategies. Concurrent asset sales include Wells Fargo's management unit divestiture and Keurig Dr Pepper's JDE Peet's acquisition.