Silas Sloan

The European mid-market firm, which has £11bn in AUM, is looking to move four UK-based assets into a new vehicle, Secondaries Investor understands.

Late last year, it emerged TowerBrook had used a continuation fund in a transaction to delist its portfolio company R1 RCM from NASDAQ.

Last year saw 70 continuation vehicles close, with scores more hitting the market, according to data gathered by Secondaries Investor.

Small-cap secondaries funds have a number of competitive advantages over their larger counterparts, including higher discounts due to a mismatch in supply and demand, according to a new white paper from the Paris-based buyer.

The strategy, which will focus on providing strategic capital to lower-mid- and mid-market buyout GPs for add-ons, was launched in 2022.

Apollo has agreed to acquire real estate investment manager Bridge in an all-in stock transaction worth approximately $1.5bn.

The APAC secondaries market is expected to have a strong 2025, and buyers in the Chinese market have an advantage.

Nick's departure follows that of Jefferies' global head of its private capital group, Matthew Wesley, who is set to join Moelis.

Eaton launched its GP solutions business in 2023 hiring a team from Credit Suisse.

Both firms are understood to have purchased an equal amount of the roughly $1bn portfolio.