North Sky Capital, which is deploying its fifth impact secondaries fund, has made an addition to its investment team.
The firm has appointed Ryan Fraser as a vice-president based in its headquarters in Minneapolis, according to a statement. He will focus on “providing liquidity to private equity funds, their portfolio companies and their investors during this economic dislocation”.
Fraser comes to the role from Los Angeles-headquartered Archer Venture Capital where he sourced and executed direct secondaries transactions in VC-backed companies. Prior to that he was at SightLine Partners, a Minneapolis-based firm that makes direct secondaries investments in VC-backed life sciences companies.
The fund targets buyout, growth equity and venture funds, typically in their fifth to 12th year, which invest in companies that use resources in a sustainable way, help with the transition to renewable energy or encourage better health outcomes and job creation.
“We are buying from two pools: a pre-recession pool that at its peak was $28 billion in size and now is around $4 billion, and a post-recession pool that is easily $90 billion and growing rapidly,” chief executive Scott Barrington told Secondaries Investor in September.
North Sky has $1.4 billion in assets under management across impact secondaries and sustainable infrastructure strategies.