Firms & Funds

The alternatives giant has committed more than $1bn into equity and credit secondaries over the past half year, according to co-president Jim Zelter.

Glendower Secondary Opportunities Fund V had an initial hard-cap of $4.5bn – a figure that is understood to have been increased.

Reduced exit activity in the buyout market, coupled with the denominator effect, is creating opportunities for buyers, Shane Feeney, managing director and global head of secondaries, tells Secondaries Investor.

The asset manager will pursue yuan-denominated LP-led and GP-led transactions from a discretionary pool of client capital, according to Asia co-head Mingchen Xia.

The firm has also made headway with fundraising for its latest secondaries programme, according to vice-chairman Erik Hirsch.

The Carlyle unit joins four other secondaries firms seeking to raise more than $10bn for their latest programmes.

Buyers are increasingly splitting out their fund strategies as institutional investors seek specific risk/reward categories for secondaries.

The investment firm is managing $200m from HESTA in a fund of one to invest alongside impact and sustainable private equity managers.

The impact secondaries firm has hired a veteran of sustainable private equity investing in anticipation of 'a lot of selling activity' by institutional investors.

Private credit continues to be one of the most dynamic areas of private markets, with Jeremy Coller expecting the private credit secondaries to grow around threefold in the coming three years.