Adam Le
Adam Le is Senior Editor, EMEA, for PEI Group's private equity publications, overseeing the flow of global news and analysis for Private Equity International and Secondaries Investor. Based in London, Adam works closely with private equity-focused colleagues across PEI's offices in New York, London and Hong Kong. Prior to PEI, his roles included reporting on finance and technology for Bloomberg Japan.
The deal was part of PIP's eight commitments to secondaries deals and funds since July amid favourable pricing conditions in the secondaries market.
The Canadian investment firm is boosting its private equity team with the hire of two associates who will focus on primaries, secondaries and co-investments opportunities.
Greenhill Cogent has been hired to sell the portfolio just months after the US' largest pension sold up to $4bn-worth of private equity and real estate stakes.
Sonae Sierra will continue to manage the nine asset fund after selling a 25% stake to the New York real estate investment firm.
The portfolio sale, the biggest secondaries deal ever, included stakes in LaSalle, CBRE and Starwood-managed funds.
The fund of funds manager has appointed a 14-year CVC veteran to its client and consultant relations team in London.
Fund of funds and secondaries strategies are the second most popular this year, accounting for 22.8% of the capital committed so far.
While infrastructure accounted for just $1.6bn of the secondaries market last year, funds needing liquidity solutions could be valued at tens of billions.
The secondaries powerhouse hired Adam Black in March to lead its environmental, social, governance and sustainability efforts.
Competition was intense for the three secondaries categories in each region after a stellar year for firms, advisors and complex deals. Here are the industry's chosen winners.
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