Firms & Funds

Major lenders in subscription credit facilities reined in new lending shortly after the crisis began in March, focusing on existing clients and facing various constraints. Smaller banks have been stepping in to the breach.

Groups like Coller-backed Liquid Stock, which offers employees financing to exercise stock options in exchange for future upside, have seen healthy business during the downturn.

The CPPIB secondaries head will lead TPG's secondaries investment strategy in Europe and the US.

Private equity volumes dropped by 58.5% and real estate by 53.4%, with infrastructure showing resilience, according to Setter Capital.

The portfolio acquired from a sovereign wealth fund is probably the largest-ever infrastructure sale, said Blackstone COO Jon Gray.

With $3.75bn in hand, Blackstone’s Strategic Partners is targeting stable assets in a range of sectors from a year to 10 years of age.

The deal is one of only a few that have proceeded through the pandemic downturn, which otherwise has stopped most secondaries deal activity.

In 2017, CEO Hans Swildens said Industry Ventures' funds would only exceed $500m if there was 'a massive downmarket correction'.

Vertex Holdings is offering liquidity options on multiple funds in a deal that could be worth as much as $500m.

The close of Strategic Partners' latest real estate secondaries fund has led Secondaries Investor to revise its fundraising figures.