INCEPTIV® Partner Ulin Vijaya Featured in Private Equity Career News Article
INCEPTIV® partner Ulin Vijaya was recently interviewed by David Toll for Private Equity Career News. Summary and highlights, as well as a link to the full article, below.
- Los Angeles-based asset manager INCEPTIV®, which has so far backed several independent sponsors and GPs via SPVs, currently invests out of its $145M Platform vehicle.
- INCEPTIV® has invested with four firms with its debut platform, including a private equity firm, a growth equity firm, and two real estate independent sponsors, and has its eye on launching two successor platforms in 2023.
- Founded in 2019, seven-person INCEPTIV® closed its debut fund, Inceptiv® Platform I LP, earlier this year. Four of the seven began working together more than decade ago at alternatives-focused wealth manager Luminous Capital, which was acquired by First Republic Bank in 2012.
- In the beginning, the team pursued a strategy of backing blue-chip fund managers on behalf of wealthy investors, family offices and others. Over time the team evolved a more opportunistic strategy that has reached its fruition at INCEPTIV®—providing independent sponsors with the growth capital they need to transact on a deal by deal basis, raise a fund, grow their team and institutionalize their operations.
- The firm also finances carry buyouts and provides working capital lines to GPs. For INCEPTIV®'s own investors, it’s a chance to flip the gross-to-net spread and achieve returns that are higher than the gross asset level returns, participating in GP economics.
- INCEPTIV® expects to be in the market next year with a real-estate-focused platform and a private equity/growth equity platform. The decision to break out the strategies into two funds stems from feedback from investors, Vijaya said: “They prefer funds that neatly fit into the ‘buckets’ they’ve allocated their capital to. Together the two funds would likely raise more than $145 million.”
Read the full article here:
