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Secondaries

The CalPERS sale is among a slew of traditional LP portfolio sales to hit the market since the fall, with prices high and buyer interest piqued by more diversified investments.
Clearlake completed a single-asset secondary transaction last year moving Wheel Pros out of an older fund and into a continuation vehicle for more time and capital to grow the company. 
Jones will oversee the firm's secondaries activity in London and will lead the strategy along with Michael Woolhouse.
Novacap Industries V, managed by Novacap, and a continuation fund have acquired a majority interest in The Master Group, a Boucherville, Quebec-based HVAC/R products distributor.
HarbourVest also agreed to commit to anchor Kibo Ventures Opportunity Fund I, that will continue supporting the existing portfolio.
LPs had the option of cash out their stakes for full or partial liquidity or rolling their interests in the fund into the continuation pool. 
The deal allowed existing investors in the two funds-of-funds to cash out of their stakes in the pools while giving the GP more time to manage the underlying portfolios.
An initial $200m was made in a portfolio of five underlying Colony Credit Real Estate interests.
Pantheon and Aberdeen Standard Investments led the deal alongside other investors.
Bott most recently was managing partner and head of investor relations at BC Partners, where he led fundraising for 10 years.
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