Marine Cole
Heightened global macroeconomic uncertainty, high valuations and market volatility are driving the $62bn US pension's strategy.
The Canadian pension giant's head of secondaries and co-investments Michael Woolhouse tells us why the organisation is positioning itself as more than just a provider of LP capital.
The firm intends to use at least $140m in proceeds from the IPO to repay a term loan, expenses incurred through the listing and for general corporate purposes.
While tail-end portfolio sales are a growing part of the secondaries market, their heavy reliance on discounts and leverage can come back to sting buyers.
The number of shares and price range are still to be confirmed by the firm which has about $274bn of assets under advisement and $40bn AUM.
The US public pension plan could bring in-house some of its $30bn in private equity exposure.
The new director, who joined the investment firm in 2011, has quickly risen through the ranks of the firm.
The Boston-headquartered firm’s round of promotions comes a month after it closed its oversubscribed secondaries fund Dover Street IX on $4.8bn.
The secondaries market had raised $38bn by mid-December, surpassing the previous record set in 2014.
Secondaries firm Coller Capital backed Irving Place Capital to add five years to its third fund and offer an attractive package to LPs.
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