Boutique secondaries buyer BEX Capital has made a series of promotions as it goes about investing its fourth flagship fund.
The Nice-headquartered firm has promoted Thomas Carbonel and Alexis Ferrer to senior partner, according to a statement. It has also hired four investment professionals, including vice-president Victor Versmee, who joins from Omnes Capital, where he worked on originating and executing buyout deals.
“Alexis and Thomas have been instrumental in the expansion and professionalisation of our firm,” said managing partner Benjamin Revillon. “We created the senior partner position to show our appreciation of their valuable contributions and to strengthen our partnership for the future.”
BEX targets limited partnership stakes in funds of funds, secondaries funds and co-investment funds. In March, BEX Fund IV held a final close on $765 million, above its target of $600 million and hard-cap of $750 million, Secondaries Investor reported. The 2019-vintage BEX III raised $365 million.
“We asked ourselves, ‘Do we go for a quick fundraise without a roadshow or do we go for a very big number, which might take up to two years and a lot of energy?’ We decided to raise a pure blind-pool fund to leave time for where we add the most value, which is investing,” Revillon told Secondaries Investor in April.
“Post-GFC, there was a drop in the number of funds of funds raised, and there was more money going into secondaries funds. Now, the co-investment fund phenomenon is getting to the maturity level where it is also turning into a secondaries market.”
BEX has $1.3 billion in assets under management across its four funds.