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Trending on peHUB this week: Blackstone is raising its second “tactical opportunities” fund, fears of a correction in the secondaries market, and Fortress, GE Capital and SBJ are looking for talent.

First read march 11

peHUB First Read

Today’s midweek headlines include Northern Trust hiring for a vice president – private equity fund of funds, Adams Street CIO stepping down and why venture capital is in need of new leadership.


Northern Trust expands alternatives group

Northern Trust has expanded its alternatives group with two appointments focused on investment opportunities in venture capital and secondary markets for private equity. James R. ‘Trey’ Hart III joined Northern Trust from Greenspring Associates and Adam R. Freda was previously at Wind Point Partners.

Northern Trust Makes Sullivan Insurance Practice Leader for Americas

Northern Trust said Wednesday that David Sullivan was named insurance practice leader for the Americas. He will replace Sheldon Woldt who was named earlier this year as head of the Middle East for Northern Trust. Sullivan will also continue as head of private equity administration in the Americas, Northern Trust said.

Job of the Week: Northern Trust Scouting for FoFs VP

Have you got a nose for picking out and securing investment in the best international venture capital and buyout fund managers? This week’s job posting is at international asset manager Northern Trust which is seeking to add a mid-level professional to be part of an eight person team to source, review, analyze, and close primary investments in US, European and Asian venture capital funds and to a lesser extent, in secondary transactions.

Morgan to Head Northern Trust Alternatives Group

Northern Trust said Monday that Robert Morgan was named to lead the Northern Trust Alternatives Group. The unit will develop and manage all alternative investment products, including hedge and PE funds of funds, for institutional and personal clients. Morgan was previously director of private equity at Northern Trust.

Fundraising Updates: Snow Phipps, Baird, Northern Trust, Thayer Hidden Creek, Rockland, Maranon Mezz

The following seven pieces of fundraising news have been culled from recent SEC filings:

Thayer Hidden Creek, a Washington, DC, and Minneapolis-based lower middle market private equity firm, is raising its second fund. Thayer Hidden Creek Partners II, L.P. has a target of $350 million. The fund has raised $84.8 million from 10 investors to date. Berchwood Partners is listed as a placement agent to the fund.

Baird Capital Partners is raising its fifth buyout fund. The fund was formed in 2008, and its target is listed as $376.2 million. The firm has closed on $130 million as of February 8. Thomas Capital Group, Inc. and Robert W. Baird & Co. itself have been listed as placement agents to the fund.

Rockland Capital is raising a fund called Rockland Power Partners LP. The vehicle was formed in 2008 and has collected $100.4 million in commitments from 19 investors as of February 9. The fund has a $500 million target. Berchwood Partners is serving as the firm’s placement agent. Rockland, based in Houston and New York, was formed in 2003 to acquire and develop selected investment opportunities in the North American and European power and energy infrastructure markets.

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