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.
The fund, which closed above its target of $2bn, has been in the market for just over a year.
Ardian had a 50% interest-free deferment on the purchase price, to be repaid on 31 December.
The pension's secondaries portfolio has been outperformed by buyouts, distressed and growth equity over the past year but continues to beat its public market benchmark.
The private markets firm is two-thirds of the way to the $500m target for Fund VIII which can acquire stakes in funds focusing on the strategy.
Committed Advisors has acquired fund interests including IK 2007, which holds hydraulics and pneumatics company DGI.
LPs that chose to sell their stakes in BC European Capital IX to Lexington Partners include media group scions, insurers and endowments.
The US state's Retirement Plans and Trust Funds has committed $100m to the secondaries firm's latest private equity vehicle.
The firm's 1999- and 2004-vintage funds are its best-performing, according to documents seen by Secondaries Investor.
The $30m commitment to ASF VII Infrastructure is part of a $1bn alternatives push by the US pension manager.
Expectations of capital distributions are up, with high pricing and dry powder dampening deployment, according to a report by Rede Partners.
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