Madeleine Farman
Madeleine Farman is the editor of PEI Group’s Secondaries Investor title based in London. Prior to joining PEI, she had covered private equity, private capital and advisers associated with the industry for other newsrooms and publications since 2016. Originally from New Zealand, Madeleine began her career in radio in Auckland.
Oakley is seeking to continue its hold of German university group IU Group, which it initially backed in 2017.
The average number of secondaries transactions advised on sat at 24 in a year where overall secondaries market volume was estimated at around $110bn.
The launch comes as Ares is set to mark the two-year anniversary of its acquisition of Landmark Partners.
LP-led mosaic transactions appear to be a common feature in the market today; expect them to remain for the foreseeable future.
Presenting the second instalment of Second Thoughts, a special series from Secondaries Investor that delves into the latest trends affecting the fastest-growing market in alternatives.
Oakley acquired a majority stake in IU Group in 2017 via €800m Oakley Capital Private Equity III fund, alongside a number of underlying Fund III investors.
The sale follows a recommendation from SCERS staff and consultant Cliffwater to sell down commitments made to 2006-08 vintage funds to deal with overallocation.
There were multiple $1bn-plus fund finance transactions in the market in the first quarter with at least 30 new entrants to the market, according to a report from PJT Park Hill.
Coller acted as sole lead on the transaction, which represents the third deal the firm has carried out with China's Legend Capital.
Supply from managers looking to the secondaries market to hold onto assets for longer periods continues to grow.