Rod James
The private equity giant approached secondaries buyers about acquiring LP stakes in its 2013-vintage Sub-Saharan Africa Fund and making a stapled commitment to its successor.
Janice Ince will source, evaluate and execute real assets primary and secondaries deals from the firm's San Francisco office.
The firm is seeking $700m for its latest real assets secondaries vehicle and has upped its carried interest to 12.5% from 10% compared with Fund III.
Norinchukin Bank’s $5bn portfolio sale is driven by regulation, but it may well be some time before similar deals come to market.
The Toronto-headquartered firm, which last year raised $1.3bn for secondaries, has appointed Sophia Damianou as MD of EMEA business development.
The secondaries firm is in pole position to back a GP-led process on Vitruvian Partners' 2007-vintage fund, which has around €850m in remaining NAV.
The portfolio, worth up to $5bn, comprises around 35 positions and is 75% unfunded, Secondaries Investor revealed in March.
Blue chip managers are using stapled secondaries deals to boost fundraising and provide liquidity to LPs. In this 17-minute podcast, lawyers from Proskauer, Debevoise & Plimpton and MJ Hudson discuss how GPs and LPs should approach this growing transaction type.
The direct secondaries specialist has been in market for at least a year targeting $750m.
The impact of SEC attention, the right way to get a fairness opinion and the growing influence of the LPAC – just some of the topics discussed on Secondaries Investor’s upcoming stapled deals podcast.