China Ping An Insurance Overseas is the asset management and overseas investment arm of the world's seventh-largest listed company.
The listed arm of Intermediate Capital Group de-risked its portfolio by selling stakes in funds managed by IK, Graphite and Silverfleet, among others.
The firm has invested in deals including last year's Allied Universal single-asset process, among other concentrated, growth-oriented secondaries transactions.
The investment firm has collected 70% more for its latest fund than its 2015-vintage predecessor.
The firm targets underperforming funds and difficult situations, which it says have increased as a result of covid-19.
Business that have benefited from the coronavirus crisis are as difficult to value as those that have suffered, says Glendower Capital's CIO at the annual BVCA Summit.
The niche firm has raised $350m for Sweetwater Secondaries Fund II, which targets 'buyer-led secondaries' deals.
The distinction between secondaries and co-investments is becoming increasingly irrelevant, according to Patrick Knechtli and Colin Burrow from Aberdeen Standard Investments.
Secondaries deals Arcano has backed include a €50m tender offer involving German GP Emeram and the restructuring of Duke Street Capital VI.
The process follows the close last week of a $600m yuan-to-dollar restructuring involving Chinese sponsor IDG Capital.
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