Alex Lynn
Alex Lynn is an award-winning journalist and Hong Kong Bureau Chief at PEI Group, leading coverage of Asia-Pacific private markets for Private Equity International and editing its daily Side Letter briefing. He joined the business in 2017, having previously covered EMEA markets from PEI's London office. Alex has a master's degree in Journalism from Kingston University. He can be reached at alex.l@pei.group.
The firm has more than tripled its deployment of LP capital through mandates over the past three years as investors seek to avoid the additional fees associated with primary funds of funds.
The preferred equity specialist is targeting $750m for Whitehorse Liquidity Partners II with a $1bn hard-cap, Secondaries Investor has learned.
The private equity fundraising veteran will no doubt be called upon as the secondaries firm ramps up marketing for its eighth global fund.
Generation Mature Secondary FoF will target stakes in European and US private equity funds.
Some LPs are feeling betrayed in fund restructurings because GPs are having to choose who they serve, the firm's senior investment manager said.
Secondary Investments IV has a $20m hard-cap to stay within its niche, according to co-founder Sherif ElHalwagy.
The firm sold a portion of the stake to unnamed limited partners for $198m, chief financial officer Chris Govan said in a Q3 earnings call.
The US's largest public pension made $3.3bn of commitments to private equity in the 2016-17 fiscal year amid its programme to reduce its number of relationships with external GPs.
Some 15% of private capital executives saw a decrease in their year-on-year base salary in 2017, significantly higher than the 1% who reported a similar change last year.
The $36bn fund reported strong private equity returns after implementing an “aggressive” restructuring plan in December 2016.