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Staff Writer

The Spanish fund of funds manager will not charge fees on its €65m secondaries fund until capital is actually put to work.
F&C and Altamar have both closed funds this week, as they seek to capitalise on emerging secondaries opportunities.
The global fund of funds manager has attracted around $600m in commitments in the last 12 months on its way to a target of $3.75bn.
The Connecticut advisory firm has invested in secondaries deals worth $1bn since 2003 from its fund of funds coffers.
But will buyers be able to meet its price expectations?
Jeff Giller has now left the San Francisco-based secondaries shop after four years with the firm.
The direct VC secondaries firm has exited mobile payment business Macalla a year after making the investment.
The superannuation fund has made its first foray into secondaries with a commitment to Partners Group Secondary Fund 2008, which is targeting €2.5bn.
The Belgian firm has bought three ‘early secondary’ interests in CapMan funds, made one primary commitment and is eying a 10% stake in the management company.
The Swiss gatekeeper will manage the Korean sovereign wealth fund's nascent secondaries programme.
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