MidOcean acquires admin service provider Affinity Dental

LPs still have concerns about transparency and leverage, but the industry's appetite for fund-level financing continues to grow.

Zonda serves more than 3,000 customers across the North American homebuilding ecosystem.

The alternative asset industry's long-standing bargain — higher yields in exchange for opacity and illiquidity — is being dismantled piece by piece, and the firms moving fastest to replace it may define the next decade of the private market.