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 target is the highest-ever sought for a vehicle dedicated to secondaries in the asset class.
The Californian pension wants to hire funds of funds managers to help it invest $150m each year until 2018 and is interested in secondaries.
Weak IPO and M&A activity in Q3 will lead to average high bids falling by as much as 9 percentage points, according to a report obtained exclusively by Secondaries Investor.
The firm smashed the $3.6bn target for the fund which was used to launch the hostile takeover bid on SVG Capital.
The investment firm has hit the hard-cap on its first dedicated secondaries fund which will focus on distressed and special situations, Secondaries Investor has learned.
Campbell Lutyens and 17Capital are the latest firms to boost or establish their presence in New York, so how important is it that secondaries players have an address there?
The Florida pension had previously committed to Lexington Partners' 2013 mid-market secondaries vehicle.
OPTrust, which manages Canada's 10th largest public pension, had previously signalled it was considering opportunistic sales of private equity assets.
Medical Research Future Fund, part of Future Fund, plans to acquire mature private equity stakes and commit to managers who hold assets for shorter time periods.
US head Benoît Verbrugghe may think the global investment manager isn't as exotic as other firms, but there's nothing boring about being the biggest secondaries firm in the market.
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