Kirk Falconer

The alts giant recorded $8bn of capital from private wealth, including $2.7bn for its private equity strategy targeting individual investors.

'We went from everybody wants to have an ILPA template to everybody wants ILPA-plus,' Petra managing partner Stephen Coats said.

Gensler’s overarching goal, he said, is to 'bring more sunshine and competition to the private funds space.'

'In today’s environment, as prices continue to go up, our emphasis will be on keeping our head down and investing heavily in capabilities to create our own deal opportunities,' Sperling says.