Readers chose the three firms in the Secondaries Firm of the Year categories across the Americas, EMEA and Asia-Pacific respectively, in PEI‘s annual industry poll.
AlpInvest raised $6.5 billion for its sixth secondaries programme, almost four-and-a-half times what it raised for its previous offering, cementing its position as a major secondaries player.
Ardian continues to tower above the rest of the market, driving dealflow on the buy- and sell-side. It was at the heart of some of the most interesting deals to take place in 2017, including a $2.5 billion transaction involving Abu Dhabi sovereign wealth fund Mubadala – the largest stapled deal yet.
TR Capital continues to break new ground in Asia-Pacific. It closed its third fund last year on $200 million and closed five deals, including its first Vietnamese LP stake acquisition and a couple of Indian fund restructurings, which are understood to have closed.
The deals category was extremely competitive, with InvestIndustrial’s GP-led process taking the top prize in EMEA. The firm raised a fund to buy €750 million of assets from its own 2008-vintage vehicle, with backing from a group led by AlpInvest.
In the North America category preferred equity made a mark. The deal that came out on top was Landmark’s backing of Clearlake Capital in its purchase of a stake in its own GP management company. Asian deal of the year was the sale of a strip of assets by Warburg Pincus, a $1.2 billion process that accounted for a sizeable chunk of the market last year.
Evercore, Campbell Lutyens and Lazard claimed the highly prized advisory awards in North America, Europe and Asia, respectively. And it was a clean sweep for Kirkland & Ellis in the legal category, as it came out on top on in all three regions for the second consecutive year.