The deal would have seen Spouting Rock Asset Management acquire approximately 70% of the private market value equity firm over the course of two years.
The private equity firm’s oversubscribed low middle market buyout strategy was double the size of its predecessor fund.
The institution was named as having the “Best Emerging Manager Program” based on an a survey of institutional clients of a global fintech platform, beating out large and prominent public pension plans and endowments.
The buyout strategies exceeded their respective targets and will invest across middle and lower middle markets in North America.
The newly promoted portfolio manager has worked at the firm since 2020 on both its small-cap and large-cap teams.
The investment from Blue Owl will support Stonepeak’s strategic initiatives as part of the ongoing growth of its global platform.
The firm closed the third vintage of its closed-end asset-based lending fund, which was oversubscribed at $1.7 billion in commitments.
The firm closed its fourth growth fund at its hard cap of $730 million with all of the investors from the firm’s predecessor fund returning.
Investments in diverse asset management continued to grow this year, with most of the commitments made to Black-owned managers in the private equity buyout and venture capital spaces, according to FIN Searches data.
FIrm’s businesses maintain climate risk assessment, ESG policies, employee engagement surveys, ceo sustainability and diversity and equity and inclusion goals.