Definitely Uncertain: The Private Wealth Podcast What is GP Stake Investing? with Anthony Maniscalco - Ep 42
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May 11, 2021 Anthony Maniscalco, Managing Director at Investcorp, specializes in GP stake investing, acquiring minority ownership in hedge funds and private equity. He discusses how this strategy can de-risk investments while enhancing returns. Maniscalco delves into relationship-building with general partners and the unique challenges of entering this niche market. He also explains innovative liquidity strategies for minority stakeholders and how GP stakes can offer yield certainty and diversification for ultra high net worth investors.
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Anthony's Career Path
- Anthony Maniscalco has nearly 30 years of experience in financial services, starting in leveraged finance and transitioning to GP stake investing.
- His career path includes Lehman Brothers, Blackstone, and now Investcorp, where he leads a program focused on mid-sized alternative asset managers.
GP Stake Investing Benefits
- GP stake investing offers attractive returns for LPs due to its yield component and de-risking through ownership of existing economics.
- This approach provides leveraged exposure to private markets, diversifying beyond individual fund investments.
Alignment and Growth
- Investcorp prioritizes consistent performance and long-term value creation over pushing new products that could dilute returns.
- They seek alignment with GPs who prioritize their investors' needs while also planning for the next generation's involvement.