Rod James
Rod James is a reporter with Secondaries Investor and also contributes to sister title PrivateEquityInternational.com. He is based in the London office. Prior to PEI, his roles included a stint as a freelancer covering fintech and transaction banking, CEEMEA capital markets reporter with EMEA Finance magazine, and editor of the Latin American political and economic risk team at IHS Global Insight.
This is the Californian pension fund's first real estate secondaries commitment and first investment with the Swiss firm.
The firm has opened offices in Chicago and Los Angeles as it continues expanding its secondaries advisory and fundraising business.
The firm's latest real estate secondaries fund has received a commitment of $50m-$60m from a California pension fund.
In February, Altamar Capital Partners hit a €541m final close on its latest secondaries fund. Managing partner Miguel Zurita speaks to Secondaries Investor about the fundraising and what to expect next.
The $50bn pension fund has made exploring the secondaries market, as a buyer and seller, a key strategic priority.
The strategy, which is run by Ardian and Lexington Partners, delivered a 16% return since inception for the $210bn US pension.
The fund has surpassed its $1bn target and is on the way to being the largest real assets secondaries fund ever raised.
Asset and manager quality still pose problems for secondaries buyers in a market where many funds are coming to the end of their lives with large amounts of remaining NAV.
The fund is targeting primary fund investments, secondaries and direct co-investments in Europe, Asia and emerging markets.
Timothy Clark, whose work includes a $1bn secondaries disposal by a US pension, has returned to the law firm after a stint at O'Melveny & Myers.
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