Elizabeth Wu
The Spanish bank’s private equity arm has offloaded stakes in PAI Partners, EQT and August Equity-managed funds amid expectations financial institutions will return as sellers this year.
California pension Ventura County Employees Retirement Association has made commitments to HarbourVest and Adams Street funds.
The Israel-based firm's latest FoF, its largest to date, can make early secondaries deals in VC and technology-related funds.
The VC fund of funds manager's two current funds in market are targeting between 20-25% internal rates of return and up to a 3x multiple.
The firm is reviewing its practices and says no clients were affected by its former employee’s unauthorised transactions.
The tail-end specialist has acquired more stakes from the world's largest asset manager using its latest secondaries vehicle.
The fund of funds, which makes primary, secondaries investments and co-investments, had an initial target of $900m.
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