The secondaries firm had its improved offer for the AIM-listed cleantech investor that shareholders accepted in February.
Author Archive | Nathan Williams
The investment firm has delayed a final close first slated for last summer to bring more limited partners on board.
Limited partners which choose to roll over their stakes in the UK buyout firm’s sixth fund’s restructuring process were revealed in a UK regulatory filing.
The firm will avoid leverage to fund deals and will instead use a credit facility of up to $360m for deals from its Global Secondary Fund 6, according to a memo revealing fund terms.
The investment firm’s performance fees were boosted by its 2007-vintage secondaries fund, from which it had sold a tail-end portfolio worth around €800m last year.
The deal involved selling an interest in CBRE Dutch Office Fund, which follows a core strategy, to three European buyers.
The private markets investor says post-2009 fund stakes are changing hands at a premium, leading it to focus on less competitive opportunities.
The advisory firm has converted to a partnership and promoted four of its 11-strong team.
Trevor Blake is the fourth person to leave the secondaries specialist in the past year.
The deal is the second for Stafford’s latest infrastructure secondaries vehicle, which recently held a third close.