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Alternative Market Briefing

Investcorp and Xponance team up to invest in diverse and woman-owned alts managers

Wednesday, April 07, 2021

Bailey McCann, Opalesque New York:

Xponance and Investcorp have entered into a strategic partnership to stake and seed diverse and woman-owned alternative asset managers. The partnership will focus on managers in the mid-market.

Investcorp's Strategic Capital Group and Xponance Alts Solutions will be leading the way in identifying managers for the partnership. ISCG was established in 2019 to invest in GP stakes. The group raised approximately $160 million in April of last year for GP stake transactions. ISCG announced at the end of last year that it has invested in mid-market private equity firm Centre Lane Partners.

Xponance Alts Solutions was established within Xponance earlier this year to invest in emerging and diverse alternative managers. It is led by industry veteran Marquette Chester, who joined the firm in February.

"It is our view that diverse managers have historically been overlooked," David Lee, a partner at ISCG tells Opalesque. "Being diverse and/or woman owned is not mutually exclusive from being a best in breed manager."

According to Lee, the partnership will be strategy agnostic in terms of the asset managers it looks to invest in. "We're looking to create as much diversification as possible," he says. "that includes from a strategy point of view, geographies, vintages, and ownership."

Investors have been keen on GP stake deals in recent years. Fundraising for GP-stakes has topped $20 billion, according to data from Pitchbook......................

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