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.
Stapled deals and restructurings can fall through for many reasons, but it’s often related to pricing that’s too low and LPs who don’t feel the need to sell.
As restructurings and stapled deals become more mainstream, very large funds and Asian funds will provide more deal flow for such transactions, according to speakers at the British Private Equity and Venture Capital Association Summit 2015 in London on Thursday.
BAE Systems' pension fund achieved a high price for its stake in DeAWM-managed RREEF Pan-European Infrastructure Fund, according to a source close to the deal.
The Spanish asset manager, which invested €65 million in nine secondaries transactions in 2014, will make sporadic secondaries purchases with its latest VC fund of funds.
The Switzerland-based firm has bought three stakes in a fund managed by IK Investment Partners, which topped a recent list of most in-demand European mid-market LBO managers.
Germany's Afinum and capiton came second and third, with buyers paying close to par for the most in-demand funds, according to a report by Setter Capital.
The listed fund of funds has seen returns from HarbourVest's funds more than double over the last five years, as secondaries growth outperforms primary investments.
Chilean asset manager Moneda has transferred a portion of its stake in a Carlyle European buyout fund amid rising investment from Latin American LPs.
She comes back to Singapore's $186bn state-owned investment firm in her previous roles, while Lee Theng Kiat becomes CEO of its management arm, Temasek International.
The Japanese private equity firm has hired an investment professional amid fundraising and expansion.
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