Look, exits! Soundcore sells Custom Goods, Eagletree sells Sparks

View this email online

Look, exits! Soundcore sells Custom Goods, Eagletree sells Sparks

Morning Hubsters!
This is Chris, on for Wire Wednesday.
Soundcore Capital, which is in the market raising its Fund III, completed the sale of logistics company Custom Goods to Angeles Equity. Soundcore acquired the company in 2020, its fourth portfolio company out of Fund II. Read more here on PE Hub.
Meanwhile, Eagletree Capital exited its investment in Sparks, a Philly-based marketing agency. Eagletree initially invested in Sparks in 2020. Read more here. Eagletree invested in the company through its fifth fund. The firm partnered with Sparks’ management group led by Scott Tarte and Jeff Harrow.
New office

KKR opened a new office in Los Angeles to expand its West Coast presence initially across real estate, private equity, private wealth and institutional client relationship teams, the firm said in a statement. The firm has about 250 employees in California across three offices. Read more here on PE Hub.
That’s it! Have a great rest of your day. Reach me with tips n’ gossip, feedback or book recommendations at [email protected] or find me on LinkedIn.

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

GenNx360 Capital is in market with its fourth fund, with a lower target than the previous offering, according to documents from the Plymouth County Retirement Association. (Buyouts)
Massachusetts Pension Reserves Investment Management contributed nearly $70 million more to its managers than it received in distributions during the second quarter of 2023. (Buyouts)
Acquisitions and leases of farmland by pension and investment funds would be restricted under legislation Sen. Cory Booker has introduced to support family farmers. (Agri Investor)
Hamilton Lane is hoping artificial intelligence can further accelerate the growth of its private wealth-focused evergreen funds. (Private Equity International)
Blue Owl Capital expects to hit the fundraising trail for its newest GP stakes fund less than a year after it raised the largest-ever vehicle for the strategy. (Private Equity International)
Goldman Sachs Asset Management has reshuffled its real estate leadership following the departure of two heads of the business earlier this year. (Private Equity Real Estate)
Ares Management expects to hold closes across at least two secondaries strategies this year, around two years after it closed the acquisition of Landmark Partners. (Secondaries Investor)
Glendower Capital said it has closed its latest flagship on $5.8 billion, five months after Secondaries Investor reported the firm had secured more than $5 billion for Glendower Capital Secondary Opportunities Fund V.