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Daniel Benin, Committed Advisors, secondaries
Deal being syndicated to other investors Park Hill working as secondary adviser Milestone has been trying to raise Fund V for 18 months Committed Advisors is leading a restructuring of two older funds for lower-middle-market investor Milestone Partners, three sources told Buyouts. While Committed Advisors is lead buyer, the deal is being syndicated to other […]
South Carolina Retirement System Investment Commission, private equity, Providence
Restructuring currently in its election period Deal valued at more than $1 bln Principal Fund V raised in 2007 AlpInvest Partners and HarbourVest Partners are co-leading a secondary process of Oaktree Capital Group’s 2009 special situations fund, two sources told Buyouts. The deal gives investors in Oaktree Principal Fund V the option to cash out […]
Kolin joined this month Five Arrows closed its last secondary fund in 2016 Kolin spent years at Strategic Partners Brian Kolin, a former executive with Strategic Partners, Blackstone Group’s secondaries outfit, has joined Rothschild & Co.’s Five Arrows group, two sources told Buyouts. Kolin, who joined Five Arrows as a managing director on the Multi Strategy team, […]
Scott Sperling, Thomas H. Lee Partners, THL, private equity
Fund VI LPs voting whether to sell or roll Total deal valued just under $800 mln Voting period ends this week After a delay, the restructuring of Thomas H. Lee Partners’ credit-boom-era sixth fund is heading for the finish line. LPs in the fund this week are voting on whether to sell their stakes in […]
private equity, Chris Witkowsky
A megadeal doesn’t happen in isolation. It doesn’t just emerge on the scene, everyone gawks, it gets done, and then everyone goes back to what they were doing. It has consequences. And in the private equity secondaries market, the advent of the $5 billion megadeal is likely to have a major impact. Two megadeals are […]
Vlad Colas, Ardian, private equity, secondaries
Venture deals’ share of total market volume creeps up Advent of $5 bln deals a ‘game changer’ VC activity fueled by changing market dynamics Insight Venture Partners, a growth- and early-stage investor, has been working on a restructuring process to move assets out of older funds into a continuation vehicle that will give the GP […]
LP book was the largest ever on the secondary market Ardian preempted an auction process Portfolio includes an amount of unfunded commitments Ardian, which is raising what could be the largest-ever secondaries fund, will acquire a roughly $5 billion portfolio of LP interests being shopped by Japan’s Norinchukin Bank, three sources told Buyouts. The Paris […]
James Coulter, TPG
Growth Fund II raised $2 bln The growth platform was led by ex-TPG executive Bill McGlashan Process would allow existing LPs to sell interests in the fund TPG is exploring a process to enable investors in its second growth fund to sell their interests in the fund, a deal that could total more than $1 […]
Aberdeen looks for secondary deal flow in smaller side of the market Has looked at single-asset deals ILPA restructuring guidelines will help bring transparency to the market Patrick Knechtli is the head of secondaries at Aberdeen Standard Investments. He spoke to Buyouts about new ILPA guidelines and how the secondaries market would react to a recession. […]
Ralph Jaeger, Siguler Guff, private equity, emerging markets
Jaeger worked on the firm’s emerging markets funds Sean MacDonald promoted to director of emerging markets Secondaries chief Tony Cusano also recently left firm Ralph Jaeger, a managing director and portfolio manager for emerging markets multimanager funds at Siguler Guff, has left the firm. Jaeger left at the end of March for personal reasons, Kathryn […]
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