Chris Witkowsky

The single-asset process is part of what looks to be record-setting secondaries activity this year that appears headed for more than $200bn of total volume.

The CV for the accounting business could raise more than $1bn, affiliate title Secondaries Investor understands.

The deal is one of the rarer energy assets to make use of secondaries as a way to extend holds and deliver liquidity to limited partners in an older fund.

HarbourVest and Goldman Sachs are understood to be the lead buyers on the multi-asset continuation fund and a single-asset continuation fund, respectively.

'We like GPs that have an exit committee or a real disciplined process around managing exits,' Kadziela told PEI Group's Chris Witkowsky at NEXUS 2025.

Eneasz Kadziela, in charge of running billions of dollars of private equity exposure for New York City’s pension system, will be a featured speaker at PEI Group's upcoming NEXUS 2025.

Infrastructure/real asset deals accounted for about 6% of the $84bn of GP-led volume last year, according to a Greenhill report.

While some believe exit activity will pick up this year along with overall investment activity, PE-backed assets held in older funds continue to grow.

The firm closed its debut fund on $850m earlier this year and is set to explore a market ripe with opportunity as sellers, for various reasons, seek liquidity in 2025.

GP-led deals represented about 46% of the $40bn-$45bn of secondaries volume in the third quarter, according to research from PJT Park Hill.