People

Felicitas hires director of secondaries

Calvin Marks joins the Pasadena-based firm as it invests its second niche secondaries fund, which closed in August on $213.4m.

-

Felicitas Global Partners has made a senior hire months after closing its second dedicated secondaries fund.

The niche secondaries firm, based in Pasadena, California, has hired Calvin Marks as director, private equity secondaries, according to his LinkedIn profile. Marks is based in Toronto, Canada, where he spent nearly five years on the secondaries buy-side with Overbay Capital Partners, finishing up as director.

Prior to joining Overbay, Marks worked as a corporate development analyst for software company Ion. He also spent a year as a consultant with the Institutional Limited Partners Association, according to his LinkedIn profile.

Marks started on Monday this week, said Felicitas’s managing partner Bonar Chhay, who highlighted Marks’s diverse body of experience, including in corporate M&A, and his strong network.

Felicitas Secondary Fund II raised $213.4 million and is well into its investment period, Secondaries Investor reported in August. The firm targets small, complex deals across private equity, private credit, venture capital and real estate.

The firm will do portfolio sales at a steep discount, but it has a preference for highly structured direct secondaries, structured credit and preferred equity deals, Chhay said.

Felicitas was founded in 2012. As well as secondaries funds, the firm has raised private credit and private equity vehicles and it operates separately managed accounts focused on the small end of the market.

Chhay spent six years as an equities manager with the $7.2 billion J Paul Getty Trust working on private equity, emerging markets equities and buying and selling stakes on the secondaries market.