Adam Le
GSAM has agreed to buy around $200m worth of stakes in Terra Firma's 2007 fund, famous for its EMI investment.
The deal included tail-end European buyout stakes from Charterhouse Capital Partners and EQT.
This is the seventh deal from the firm's 2bn SKr Verdane VIII fund, which is now over two-thirds invested.
The mezzanine powerhouse is expected to have raised a third of its target for the fund, which will focus on restructurings.
Higher public exposure and limited upside in tail-end fund stakes will drive pricing further apart for good- and poor-quality assets, according to a new report.
The VC secondaries firm is targeting the same amount it raised for its previous dedicated secondaries fund.
Tail-end opportunities, the beauty of volatility and the proliferation of GP-led transactions were among the topics broached at an industry event in London this week.
The National Bank of Greece has signed a €288m deal to spin out its private equity unit 18 months after proceedings began.
The Carlyle Group's fund of funds unit has expanded with the hire of an ex-Bain Capital vice-president on its secondaries team.
Ashley Johansen, a partner responsible for fundraising, has left the firm just a month after the firm closed its biggest-ever secondaries fund.