Taiwan’s Cathay Life commits $100m to Blackstone’s secondaries-focused fund

Blackstone Group LP headquarters stands in New York, U.S., on Friday, April 14, 2017. Photograph: Victor J. Blue/Bloomberg

Taiwan’s Cathay Life Insurance has agreed to invest $100 million in Strategic Partners GP Solutions, according to a stock exchange filing. 

The fund is managed by Blackstone Strategic Partners and targets GP-led secondary deals as well as co-investments in North America and Western Europe.

Blackstone Strategic Partners acquires stakes in funds across asset classes, including private equity, infrastructure, real estate and impact investing. It had $38 billion in assets under management, as of March 31, 2021.

Blackstone had acquired Strategic Partners from Credit Suisse in 2013.

Earlier, in February this year, Cathay Life Insurance had approved an investment of $50 million in Blackstone Strategic Capital Holdings II, which was launched by Blackstone with a target size of $4 billion. Previously, Blackstone had closed its Strategic Capital Holdings I at $3.3 billion in 2015. 

The insurer recently also allocated capital to a slew of other funds, including Insight Partners XII, Thomas H Lee Equity Fund IX, Hellman & Friedman Capital Partners X, Coatue Growth V Offshore Feeder Fund and buyout firm Genstar Capital’s mid-market fund Genstar Capital Partners X. 

Cathay Life is one of the largest life insurance players in Taiwan. It offers a full range of insurance solutions that comprise life, health, travel, accidents and annuity, among others. The insurer, which has subsidiaries in China and Vietnam, has so far served nearly 8 million users.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.