Chelsea Stevenson
Abbott Capital plans to invest between $50m and $100m in secondaries each year.
The San Diego County Employees’ Retirement Association plans to reduce the number of private equity funds in its portfolio from 53 to between 25 and 35.
Cincinnati-based Fort Washington Capital Partners has closed its third private equity opportunities fund on $150 million.
Private equity secondaries accounted for three-quarters of total activity last year.
Akina closed its debut secondaries fund on €220m thanks to a growing appetite for Europe from North American investors, explains head of secondaries Christian Böhler.
The median bid for limited partner stakes trading on the secondaries market grew 1.2 percent year over year.
Just three advisory firms accounted for nearly half of the estimated $52bn in secondaries activity last year.
Euro Choice Secondary launched last year and held an interim close on €122m in October.
The trio of advisors brokered circa $25bn in transactions last year, accounting for nearly half of all estimated secondaries market activity.
Connection committed €3m to 17Capital III and will seek future fund commitments, said partner Claire Madden.
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