Impact secondaries firm North Sky makes senior hire

The investment manager closed its latest fund last September on $220m.

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.

In September North Sky raised $220 million for Clean Growth Fund V, more than three times the amount raised for its predecessor.

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.