Firms & Funds

The $55.6bn asset manager is investing Pantheon Global Secondary Fund VI and related separate accounts, which raised $2.2bn by final close in June.

GP-led deals have taken a large slice of deal volume since the pandemic as buyers back away from diversified LP portfolios.

The secondaries powerhouse's latest vehicle is 26% larger than its 2014-vintage predecessor and comes amid record highs for secondaries fundraising and GP-led volume.

Stéphane Chevrier, an early former member of Ardian's US secondaries team, will lead the niche firm's further push into the North American secondaries market.

The process on Giza V was run by Asante Capital, which in June hired ex-Rede Partners secondaries head Yaron Zafir as a senior advisor.

Portfolio Advisors Secondary Fund IV, which targets US mid-market buyout funds, has received a $150m investment from PSERS.

The office opening comes as some market participants expect the impact of the coronavirus pandemic on Latin America’s capital markets to create secondaries opportunities.

The firm has also opened an office in Frankfurt – its first in Germany – as it seeks €750m for infrastructure secondaries.

The firm is in market targeting $1.25bn for its fourth secondaries fund and is set to launch a vehicle targeting GP-led deals.

The evergreen fund will aim to invest in a mix of secondaries, direct investments and co-investments in credit and equity.