Our chart of the week is: Private Equity vs. S&P 500
Key PE events you shouldn't miss out on
Let’s dive in.
Best,
Kasper,
CEO & Co-founder Balentic
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The BIG NEWS
We are introducing news.balentic.com
Follow what GPs are doing, with the strategy behind it
We’re excited to announce the launch of News.Balentic.com - a new destination for anyone looking to stay updated and track what GPs are doing, investing in, and announcing in real time.
But this isn’t your typical news feed
Every update on Balentic Market News comes straight from GPs themselves, and each item is directly linked to the strategy it supports on our platform, Orca. That means you’re not just getting headlines - you’re getting context and input for your investment process.
Whether you’re an LP looking for thematically aligned opportunities, or a GP aiming to stay visible and share momentum, this is the tool built for you.
What makes it different?
It’s a free service: there is no paywall and no credit card is needed.
Strategy-linked updates: Every news item is tied to a real strategy on Orca - i.e. you can directly see the ‘impact’ of certain investment or divestment on the GP’s strategy.
AI enabled smart-search: Search for themes like “energy transition” and uncover relevant activity across a range of strategies and activities, even if those exact words aren’t used.
Live GP pages: Each GP has a dedicated 'news hub' that updates as they post.
No login needed: Browse freely. Register only if you want to comment, or share.
Daily editorial picks: Each day, we highlight what’s relevant, what’s moving, and what deserves attention. Follow our updates on LinkedIn.
This is a space built for clarity, not clutter - and it’s free to access.
Whether you're scanning the market or deepening your due diligence, Balentic Market News makes it easier to follow what matters, with the strategic layer that’s missing elsewhere.
Blackstone announced that Joseph Cassanelli, former Co-Head of Lazard’s U.S. Financial Institutions Group, has joined Blackstone Tactical Opportunities (Tac Opps) as a Senior Managing Director, focusing on investments in the financial services sector.
Low Carbon has submitted two Section 36 planning applications to the Scottish Government’s Energy Consents Unit for its proposed High Brenfield (62 MW) and Glen Lednock (118 MW) wind farms, marking a significant step forward in its onshore wind ambitions.
Actis enters into an agreement to acquire a portfolio of operational toll roads in Colombia from Sacyr for US$1.6 billion, using capital from its Long Life Infrastructure Fund 2 (ALLIF2).
Trucordia, a top 20 U.S. insurance brokerage, announced a $1.3 billion strategic investment from Carlyle’s Global Credit platform. The deal, which values Trucordia at $5.7 billion and is expected to close later this month, will help the company reduce leverage, repurchase units from minority investors, and simplify its governance.
Orca Highlights
Welcome to Jera Capital
Founded in 2022, Jera Capital is a leading private equity firm specialising in flexible, evergreen investment solutions focused on the private equity secondaries market. With over 50 years of combined experience and more than €10 billion invested across 100+ transactions, Jera offers investors diversified and liquid access to private equity.
Jera Capital’s strategy focuses on acquiring interests in established private equity funds and portfolios through the secondary market, with a particular focus on companies valued above €100 million in North America and Western Europe. This approach enables efficient capital deployment, enhanced liquidity, and flexible access for investors.
Jera Capital is committed to responsible investing, integrating ESG principles aligned with the UN Sustainable Development Goals.
View Jera Capital’s full profile and strategy, and connect with them directly on Orca.
New episode: Thematic Investing - Energy Transition
Is Energy Transition the Next Alpha Opportunity?
From $50 trillion investment gaps to unpriced risks, Simon Powell pulls back the curtain on what’s really driving energy transition and what LPs and GPs might be overlooking. In this episode, we dive into the sectors with stratospheric growth potential, the uncomfortable truths about policy risk, and why the “technology bunny” might be the smartest player in the room.
New blog post: Navigating Private Markets in Times of Uncertainty:Insights from SuperReturn International Berlin
Fresh from SuperReturn International, Balentic CEO Kasper Wichmann shares insights on how private markets are navigating a complex landscape - from liquidity pressures and booming secondaries to infrastructure strength, AI disruption, and the return of geopolitics as a key investment driver.
Here are some key takeaways:
Liquidity remains the top priority. LPs and GPs alike are acutely focused on exit channels and distributions
GP-led continuation vehicles are mainstreaming, even as critics warn about complexity and conflicts
Geopolitical tailwinds are shaping strategy, particularly in Europe, where defence and security infrastructure are gaining traction
Elevated infrastructure and private-debt commitments suggest investors are positioning for long-term upside despite headwinds
For the first time in nearly 25 years, State Street’s private equity index has underperformed the S&P 500 across every major time horizon - 1, 3, 5, and 10 years. In 2024 alone, private markets returned 7.08% versus the S&P’s 25.02%.
We don’t fully agree with the comparison. The State Street index, while based on actual cash flows, blends global buyout, venture, and credit strategies - not apples-to-apples with US large-cap equities.
So, why are we featuring it? Because it was published by the FT and it it making the rounds - thus you need to know!
As we all know, dispersion in private equity is massive: manager selection is everything. Using the wrong benchmark doesn’t just mislead LPs - it can misguide GPs too.
What the chart does reinforce is this: manager selection is everything. Private markets isn’t a single product - it’s a spectrum. Top-tier managers still outperform, even in tough vintages. But finding them takes more than brand names or past IRRs.
This is exactly why we built Orca. LPs need sharper tools to screen the market, map track records, and see through the fog of averages. In a world where dispersion drives returns, accessing the right opportunities is more than strategy - it’s the key to outperformance.
What is Coming Up
World Family Office Forum | Europe - 16 June 2025, Montreux, Switzerland Private Capital Sustainability Conference - 25 June 2025, London, UK ALTSCHI -14 July 2025, Chicago, USA
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Disclaimer: The information provided in this newsletter is for informational purposes only and should not be construed as financial or investment advice.
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