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 $7bn Californian pension has allocated two-thirds of its portfolio to private assets and has previously committed to secondaries funds.
Recent failed restructurings have not been in vain: secondaries is an evolving industry and learning from its early missteps.
The fund of funds manager has appointed Edouard Merette as chairman of its Asia business to lead its regional growth strategy.
The Paris-headquartered firm raced past Lexington Partners and Blackstone in our exclusive list of the world's largest secondaries managers.
The preferred equity specialist, which is now understood to be targeting around €900m for its fourth fund, will send its number three in command to lead its North America operations, Secondaries Investor has learned.
The $2.7bn pension, which has previously invested in secondaries through funds managed by Landmark Partners, backed NB Alternatives' predecessor fund.
The investment manager is seeking €300m for its latest dedicated secondaries fund and expects dealflow in the smaller end of the market to remain robust.
Expected returns for secondaries deals completed in the first half are down compared with a year earlier, according to a report by Setter Capital.
The firm, founded by former Willowridge partner Michael Bego, has reached the $180m hard-cap for its fund that focuses on the smaller end of the market, Secondaries Investor has learned.
The Blackstone unit, which launched its latest secondaries fund a year ago with a $6.5bn hard-cap, is yet to hold a final close on the vehicle.
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