Private Investing Market Pulse

Research evidence excerpt

Private Investing Market Pulse

Financials | Brokers, Banks & Asset Managers

June 26, 2026

Glenn Schorr, CFA Benjamin Rubin, CFA, CPA John Dunn Matthew Lyons, CFA

212-653-9045 646-551-8502 212-446-9455 212-336-1709

glenn.schorr@evercoreisi.com Benjamin.Rubin@evercoreisi.com John.Dunn@EvercoreISI.com matthew.lyons@evercoreISI.com

I don't know what you heard or saw this week, but we thought we'd highlight the most interesting stories

across private markets and wealth management.

TPG Appoints Axel André as Chief Financial Officer

|TPG| Congrats Axel! Excited to see that an insurance veteran is joining the firm and Jack is staying and

focusing even more on wealth.

Blue Owl in Advanced Talks to Buy Stake in Cleveland Cavaliers

|Bloomberg| Great time to take a minority stake given the LeBron homecoming talk.

US SEC probes popular type of private equity fund as it steps up industry scrutiny, sources say

|Reuters| The SEC is looking into the valuations, disclosures, and potential conflicts among CVs.

The so-called ‘zombie fund’ problem persists and LPs are concerned

|PE Int| LPs expect more zombie funds over the next 2 years as the exit logjam continues – cue the

secondaries volume.

Life Insurers Aren’t Just Investors in Private Credit. They’re Major Lenders, Too.

|WSJ| Can’t say we’re overly worried about BDC bonds – aka 3-5 year IG-rated paper to ~1x levered funds…

Blackstone’s $343 Million Loan on Chicago Tower Defaults

|Bloomberg| Not surprising – this was on BXMT’s watchlist for years given Chicago’s challenging office mkt.

Intra-Quarter Updates

• Blackstone Announces Intra-Quarter Realization Update Relating to the Second Quarter

|BX| Announced +$500mn of Q2 monetizations so far & while below expectations, the final amount is TBD.

• KKR Announces Intra-Quarter Update