Peter M. Vaglio, P.C.
Overview
Pete is a partner in Kirkland’s corporate and transactional practice and is one of the leading innovators and strategic advisors in the asset management transaction industry over the last decade. A former investment team managing director within Blackstone Inc.’s “GP Stake” business, Pete divides his practices across the “sell-side” and “buy-side” representing clients ranging from the largest public alternative asset management firms to first time fund managers in asset management transactions (including control, minority-for-control, “GP Stake”, preferred equity, and seeding transactions). Pete has been involved in all aspects of the GP Stakes industry since its very early days, with diversified roles including raising capital for funds, transaction sourcing, transaction underwriting and valuation, and leading the principal-to-principal business negotiations on some of the earliest and most consequential GP Stake transactions to date.
Pete also represents founders and other “C-Suite” executives of alternative asset firms on strategy and value creation initiatives, upper-tier arrangements, succession planning and broader firm restructurings, and led the transaction memorializing the landmark transition of control of Bridgewater Associates from Ray Dalio to the next generation of firm leadership. In this role, Pete often consults with executives, investors, bankers, advisors and other experts in the industry around the “institutionalization” of firms, asset manager valuations and value drivers, and best practices.
Representative Clients
Actis, Arctos Sports Partners, BayPine, Blackstone Inc., Bridgewater Associates, Cushman & Wakefield, Deerfield Capital, GLP Capital Partners, Host Hotels, Hunter Point Capital, GCM-Grosvenor, ICONIQ, King Street Capital Management, Landmark Partners, Leeds Equity Advisors, LSV Advisors, OCP Asia, Post Road Group, Starwood Capital Group, TPG Capital, TPG Next, Wafra, Whitehorse Liquidity Partners
Experience
Representative Matters
Since joining Kirkland, Peter has been involved in the following matters:
- Actis on its sale to General Atlantic.
- Arctos Sports Partners in its launch of Arctos Keystone.
- Bridgewater Associates in connection with its governance transition and restructuring.
- Cushman & Wakefield in its strategic transaction with Greystone & Co.
- GCM Grosvenor on strategic partnership with Excolere Equity Partners.
- Grafine Partners on the sale of a minority interest to CAZ Investments.
- Host Hotels in its strategic acquisition of a minority stake in Noble Investment Group.
- Hunter Point in its minority investment in MidOceanPartners.
- Hunter Point in its minority investment in Inflexion Partners.
- ICONIQ in its minority investment in Madison Realty Capital.
- LSV Advisors in its strategic transaction with Alliance Bernstein.
- OCPAsia in a sale of a minority stake to AMG.
- Post Road Group in a sale of a minority stake to Capital Constellation.
- SER Capital Partners on the sale of a minority interest to Capricorn Investment Group.
- Snowhawk Partners on a strategic investment from Nuveen.
- Starwood Capital Group in the spin-out of its energy business.
- Whitehorse Liquidity Partners in various preferred equity financing matters.
Prior to joining Kirkland, Peter was involved in the following matters:
Select Minority Interest, Seed and Financing Transactions
- Blackstone's Strategic Capital Group in the acquisition of minority stakes in Solus Advisors, Magnetar Capital Partners, Marathon Asset Management, Leonard Green & Partners, Kohlberg & Co., The Rockpoint Group, Pacific Alliance Group, Francisco Partners, New Mountain Capital, Marlin Equity Partners, GI Partners, and BC Partners.
- Blackstone's Strategic Capital Group in seed investments in Parsifal Capital and Seiga Asset Management.
- Blackstone Alternative Asset Management in connection with various preferred equity financing transactions.
- Blackstone Alternative Asset Management in connection with various strategic joint ventures.
Select Transactional Matters
- Blackstone Alternative Asset Management in connection with a joint venture resulting in a minority acquisition in a hedge fund service provider.
- An international insurance company in connection with the spin-out of an oil & gas investment team.
- A public alternative asset management firm in connection with a strategic transaction with a reinsurance firm.
- A large international asset manager in connection with the divestiture of a minority owner.
Select Fundraising
- Global Infrastructure Partners in the formation of Global Infrastructure Partners II, a $8.25 billion infrastructure focused fund.
- The Carlyle Group in the formation of Carlyle Europe Partners IV, a €3.75 billion European buy-out fund.
- Blackstone's Strategic Capital Group in the formation of Blackstone Strategic Capital Partners I, a $3.3 billion fund dedicated to acquiring minority investments in alternative asset management firms.
- Apollo Capital Management in the formation of Apollo Credit Opportunities Fund II, a $2.3 billion credit opportunities fund.
- Blackstone's Strategic Capital Group in the formation of Blackstone Strategic Alliance Fund III, a $1.15 billion fund dedicated to making seed investments in hedge fund alternative firms.
Prior Experience
The Blackstone Group
Debevoise & Plimpton
More
Thought Leadership
Speaking Engagements
Panelist, IBAInvestment Funds International Conference on Private Investment Funds – GP Stakes, March 2023
Panelist, Maples Investment Funds Forum – Succession Planning, February 2020
Panelist, Kirkland & Ellis Fund Finance Roundtable, November 2019
Panelist, 17th Annual IBA International Conference on Private Investment Funds, GP Stakes, March 2016
Credentials
Admissions & Qualifications
- 2009New York
Education
- Seton Hall University School of LawJ.D.2006
- Boston College2000