Firms & Funds

The appointment follows that of Daniel Lee as head of fundraising and investor relations for North America in April.

The Neuberger Berman unit has securitised future cashflows from underlying GPs' management fees to return distributions to its LPs.

Just eight of the world's 50 biggest private equity firms according to the PEI 300 are involved in secondaries.

HSE24 is owned by Providence Equity Partners, which hired Evercore to explore a GP-led process at the start of this year.

Yaron Zafir will take a senior role at the placement agent and advisory firm, bringing its number of secondaries advisory professionals to 10.

The deal gave liquidity to 40,000 retail investors who averaged a 3x return on invest, Secondaries Investor has learned.

The firm, which rebranded from Private Advisors this year, closed its latest vehicle focusing on the asset class in April.

The firm believes the four deal types represent a market opportunity of up to $8bn a year, according to US pension documents.

The firm acquires portfolios of lower-mid market companies in the DACH area and often takes management control.

The process centred around star fintech asset Trustly and included backing from Investment Corporation of Dubai and Retirement System Investment Commission of South Carolina.