Brian Cantwell
Private equity fund interests from the Royal Mail's pension fund could be sold off by the UK government after it took over responsibility for the Mail's pension scheme in 2012.
NYPPEX estimates that tail-end funds comprised approximately 26 percent, or $6.46 billion, of total secondaries transaction volume in 2013.
The life sciences-focused direct secondaries firm has purchased 20 assets thought to be worth $5-10m each with the backing of Lexington Partners.
Sellers’ demands for staples may be slowing up some of the bigger secondaries deals in play.
A unique structure is said to have allowed Ardian to bypass the time-consuming GP approval process for all 350 interests.
In a bid to reduce fees and bolster existing relationships, the US pension will put $100m to work in both its real estate and private debt co-investment and secondaries programmes.
The mid-market fund of funds will manage out its existing assets and reportedly return commitments made to Fund X.
The Blackstone-owned secondaries manager continues to gather commitments for Fund VI as it targets $3.5bn with a hard cap of $4bn.
Ex-Park Hill managing principal and Arrow Point founder Kim Pederson has joined Hycroft, a nascent investment bank set up by Cogent founder Scott Myers.
On my travels around London this week I heard a fun secondaries market analogy...
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