Core Viewpoint - A securities class action lawsuit has been filed against Compass Diversified Holdings for failing to disclose significant accounting irregularities related to its acquisition of Lugano Holdings, impacting financial reporting during the Class Period from May 1, 2024, to May 7, 2025 [1][3]. Company Overview - Compass Diversified Holdings is a private equity firm headquartered in Westport, Connecticut, which acquired a majority interest in Lugano Holdings, Inc., a high-end jewelry designer, in 2021 for an enterprise value of $256 million [2]. Legal Allegations - The lawsuit alleges that Compass did not disclose that Lugano violated accounting rules and industry practices during fiscal 2024, leading to distorted financial results due to these irregularities [3]. - It is also claimed that Compass failed to implement effective internal controls over its financial reporting [3]. Investor Information - Investors who purchased Compass securities during the Class Period have until July 8, 2025, to seek appointment as a lead plaintiff representative of the class [2].

2 0 2 4年，中国国际科技促进会母基金分会和母基金研究中心（c h i n a -f o f. c om，下同）在深 圳、上海、武汉、广州、成都、杭州、合肥连续举办七场研讨会。为加强私募股权行业内各机 构的合作交流，促进母基金行业健康发展，中国国际科技促进会母基金分会和母基金研究中心 于2 0 2 5年继续在全国各地举办多场LP&GP研讨会。 2 0 2 5年的首场深圳站研讨会已于3月2 6日成功举办，探讨"国办1号文后母基金行业的未来趋 势"。第二场上海站研讨会已于4月2 4日成功举办，探讨"母基金在并购领域的机遇"。第三场研 讨会来到了武汉—— 2 0 2 5年5月2 9日，2 0 2 5 "新时代的母基金"全国研讨会（武汉站）在武汉 市成功举办 。本次研讨会，由中国国际科技促进会母基金分会主办，武汉产业发展基金有限公 司（武汉基金）、武汉科创投资服务联盟联合主办，母基金研究中心承办。本场研讨会的主题 为探讨 " 母基金的多元化退出策略 "，来自政府机构、行业协会、政府引导基金、市场化母基 金、一流投资机构代表等6 0余人齐聚一堂，为中国股权投资行业建言献策。武汉市委金融办资 本市场处相关领导出席会议 ...

Core Insights - P10, Inc. announced the closing of its latest primary fund-of-funds, RCP Fund XIX, LP, with approximately $314 million in capital commitments [2][3] - The fund targets investments in North American small buyout fund managers focusing on less than $1 billion in committed capital, aiming for control-oriented investments in small to mid-sized companies with enterprise values between $10 million and $250 million [3][4] Company Overview - P10 is a leading multi-asset class private markets solutions provider, with a global investor base of over 3,800 investors across 50 states and 60 countries as of March 31, 2025 [5] - RCP Advisors, a subsidiary of P10, focuses on providing access to North American small buyout fund managers and has approximately $17 billion in committed capital as of May 27, 2025 [7]

Core Viewpoint - Shares of Compass Diversified (NYSE: CODI) fell nearly 15% in intraday trading due to troubling accounting practices at a subsidiary, leading to a securities class action lawsuit [1] Financial Measures - Compass Diversified announced urgent liquidity measures including a forbearance agreement with lenders, reduction in management fees, and suspension of quarterly cash distributions [2] - The company will also curtail new investments in Lugano Holdings, the subsidiary involved in the controversy, to focus on its other eight portfolio companies [2] Regulatory Issues - The New York Stock Exchange notified Compass that it is out of compliance with listing requirements due to delayed quarterly report filings, facing a six-month deadline to remedy the situation or risk delisting [3] Legal Actions - A securities class action lawsuit was filed in California, alleging that Compass and executives misled investors about the financial health of Lugano Holdings, claiming undisclosed financing arrangements and irregularities in financial statements [4][5] - The lawsuit contends that Compass's internal controls were inadequate and key information was withheld from shareholders [5] Financial Impact - On May 7, Compass revealed "irregularities" in Lugano's financial practices, leading to a sell-off that erased more than half of the company's market value in one day [6] - Following this, Compass announced a delay in releasing its first-quarter 2025 financial results as an internal investigation is ongoing [6] Investigative Actions - Hagens Berman is investigating potential securities violations by Compass Diversified, indicating the severity of the financial reporting issues [7]

Summary of The Carlyle Group (CG) FY Conference Call - May 28, 2025 Company Overview - **Company**: The Carlyle Group (CG) - **CEO**: Harvey Schwartz - **Date of Conference**: May 28, 2025 Key Takeaways from the Conference Call Strategic Growth Initiatives - Carlyle has focused on implementing strategic growth initiatives and operational improvements over the past two years [4][10] - Key areas identified for growth include: - Secondaries business (Carlyle Alp Invest) with a 25-year history and $90 billion in assets [5] - Capital markets, insurance, and credit platforms [5] - Capital markets revenue reached $150 million in a six-month period, surpassing any previous full-year revenue [6] - Potential peak operating environment could yield over $300 million in capital markets revenue [7] Operational Improvements - Fee-Related Earnings (FRE) increased by nearly 40% since the CEO's tenure began, with operating margins up 900 basis points [8] - A complete overhaul of the compensation strategy has aligned interests among LPs, shareholders, and teams [9] - Share repurchase program is over 50% complete [9] Market and Economic Outlook - Concerns about sticky inflation, higher interest rates, and slowing economic growth were acknowledged [11][12] - Current economic conditions are viewed as unique due to a global policy shift, influenced by tariff policies and geopolitical tensions [12][13] - The uncertainty in policy is causing a chilling effect on business decision-making, leading to delayed capital market activities [20][19] - Carlyle's data indicates that while there is uncertainty, EBITDA is growing, and companies are not drastically adjusting hiring [22] Trade Relations and Global Investments - Carlyle has a long-standing commitment to Asia, particularly Japan and China, with positive discussions regarding trade negotiations [31][36] - The firm has a history of successful investments in China and is optimistic about future opportunities [37][38] Realizations and Capital Deployment - Carlyle's platform currently manages $453 billion in assets, with a significant focus on credit insurance [42] - The firm returned approximately €20 billion in capital over the past year, significantly outperforming the industry average [46] - Carlyle's U.S. buyout business is performing well, with the current fund tracking exceptionally [49] Fundraising and Growth Outlook - Carlyle maintains its 2025 guidance of $40 billion in flows and 6% FRE growth, despite recent market volatility [70] - There is a shift in LP conversations towards national security and local investments, with a focus on defense and energy sectors [72][74] Secondaries Business - The secondaries business is growing rapidly, with Carlyle positioned as a dominant player in this space [57][64] - The firm is focusing on providing integrated solutions across various client channels [59][62] Insurance and Reinsurance Opportunities - Carlyle's Fortitude insurance business is seen as a valuable asset, with ongoing opportunities in reinsurance transactions [93][94] - The firm is open to inorganic growth opportunities in the insurance sector, provided they align with strategic goals [98][99] Capital Markets Strategy - Carlyle is restructuring its capital markets team to enhance revenue generation capabilities [102] - The firm aims to leverage its well-developed capital markets team for monetization opportunities [102][104] Additional Insights - Carlyle's competitive advantage lies in its global brand recognition and established track record in various markets [84] - The firm is actively exploring new product offerings and partnerships to meet evolving client needs [90][91] This summary encapsulates the key points discussed during the conference call, highlighting Carlyle's strategic initiatives, market outlook, and operational improvements.

NBPE Announces April Monthly NAV Estimate St Peter Port, Guernsey 28 May 2025 NB Private Equity Partners (NBPE), the $1.2bn1, FTSE 250, listed private equity investment company managed by Neuberger Berman, today announces its 30 April 2025 monthly NAV estimate. NAV Highlights (30 April 2025) NAV per share was $27.29 (£20.43), a total return of 0.4% in the monthApproximately 62% of fair value based on private company valuation information as of Q1 2025 or based on 30 April 2025 quoted pricesBased on inform ...

Core Viewpoint - A securities class action lawsuit has been filed against Compass Diversified Holdings for failing to disclose significant accounting irregularities related to its acquisition of Lugano Holdings, impacting the financial reporting during the Class Period from May 1, 2024, to May 7, 2025 [1][3]. Company Overview - Compass Diversified Holdings is a private equity firm headquartered in Westport, Connecticut, which acquired a majority interest in Lugano Holdings, Inc., a high-end jewelry designer, in a deal valued at $256 million in 2021 [2]. Legal Allegations - The lawsuit alleges that Compass did not disclose that Lugano violated accounting rules and industry practices during fiscal 2024, leading to distorted financial results due to these irregularities [3]. - It is also claimed that Compass failed to implement effective internal controls over its financial reporting [3]. Investor Information - Investors who purchased Compass securities during the Class Period have until July 8, 2025, to seek appointment as a lead plaintiff representative of the class [2].

Company Overview - RCP Advisors is a private equity investment firm focused on North American small buyout fund managers, providing access through primary funds, secondary funds, and co-investment funds, along with customized solutions and research services [1][4] - The firm has approximately $17.0 billion in committed capital and employs 55 full-time professionals as of May 27, 2025 [4] Fund Details - RCP Fund XIX, LP has closed with approximately $314 million in capital commitments, supported by a diverse base of investors including family offices, public pension plans, endowments, foundations, and high-net-worth individuals [1][2] - The investment strategy of Fund XIX will mirror that of RCP's previous primary funds, targeting buyout fund managers with less than $1 billion in committed capital [3] - Fund XIX aims to invest in established small to mid-sized companies with an enterprise value ranging from $10 million to $250 million [3]

Group 1 - The article discusses the author's favorite companies for investment, highlighting a focus on long-term strategies [1] - MMMT Wealth, managed by Oliver, emphasizes research on investment strategies and stocks, aiming for insights from various financial sources [1] - Oliver has a background in financial services, particularly in private equity, hedge funds, and asset management, with a passion for investing [1] Group 2 - The author holds long positions in several companies, including SOFI, NBIS, AMZN, and LMND, through various financial instruments [1]

Core Viewpoint - The article highlights the growth and performance of quantitative private equity funds, particularly those with assets under management between 5 billion and 50 billion, which are often overlooked compared to larger funds [2]. Summary by Sections Quantitative Private Equity Overview - As of May 16, there are 862 quantitative managers, with 190 managing between 5 billion and 50 billion, accounting for 22.04% of the total [2]. - Among these, 404 quantitative products have shown an average return of 20.46% and a median return of 16.08% over the past year [2]. Performance of Top Products - The top 20 products in terms of performance are predominantly quantitative long products, with 17 out of 20 falling into this category [2]. - The article mentions specific products and their performance, such as "翰荣安晟进取一号B类份额" from 翰荣投资, which achieved a return of ***% [7]. Management Firms and Locations - The majority of managers are based in Shanghai, with 8 firms, followed by Shenzhen and Hangzhou with 4 each [3]. - Notable firms include 翰荣投资, 量盈投资, and 靖奇投资, which have consistently ranked among the top in performance [3][8]. Detailed Product Insights - "量盈半导体指数增强一号" from 量盈投资 ranks second with a return of ***% [7]. - 靖奇投资's "靖奇基石5号B类份额" ranks third, also with a return of ***% [8]. - 海南盛丰私募's "盛丰量化选股1号" ranks fourth with a return of ***% [9]. Strategy and Technology - Many of these firms leverage advanced technology and AI in their investment strategies, with teams composed of experienced professionals from prestigious institutions [7][8][10]. - For instance, 量盈投资 utilizes a trading system developed by former Google engineers, while 靖奇投资 employs data mining and modeling techniques [7][8]. Market Trends - The article notes a shift in investor focus towards smaller quantitative private equity firms, which have shown competitive performance and innovative strategies [2][12].