Chris Witkowsky

The insurer worked with Evercore to shop a $1.8bn portfolio under the name Project Trident, Secondaries Investor has learned.

People moves within the secondaries advisory community have continued apace as firms jockey for competitive position.

The system's process marks the latest instance it has sought liquidity in the secondaries market.

Private markets comprise around 61% of Abu Dhabi Investment Council's investment portfolio.

The investment bank had hired Rothschild’s London-based head of GP Solutions late last year.

'It's been a tough four years for private equity... and it's why DPI is IRR today – not the new IRR – it is IRR today,' Matthew Roche, partner with StepStone Group said.

A replacement for global head of the PCA group, which will continue to operate as usual, has not been named, Secondaries Investor understands.

While some participants have described secondaries activity as somewhat subdued in the early part of the year, numerous deals continue to work through their processes that had been launched last year.

Traditional buyout firms are taking advantage of what is widely considered a deficit of capital available for the growing number of opportunities in the secondary market, as GPs and LPs seek ways to monetise assets in older funds.

Many GPs have been seeking ways to sort out assets lodged in older funds, with limited partners increasingly seeking liquidity.