The single-asset deal is among a slew of mid-market transactions that are keeping secondaries buyers busy, despite a slowdown earlier in the year on the GP-led side.
A mismatch between the supply of potential deals and the number of institutional buyers has given Schroders significant 'bargaining power', says Jun Qian, the firm's head of China PE.
Patria has been preparing to formalise and widen its secondaries business, Secondaries Investor has reported.
The investment banking arm of Daiwa Securities Group has grown its secondaries advisory team to six people.
Strategic Partners, formed in 2000, has grown rapidly since its acquisition by Blackstone into one of the largest secondaries buyers in the market.
The buyout firm and owner of UK supermarket chain Asda has mandated Rede Partners to explore a process on its third and fourth flagship funds.
Unrealised assets in private credit funds sit at around $1.5trn, partner and global head of private credit Rick Jain told Secondaries Investor this year.
Abu Dhabi Investment Authority's secondaries activity last year included making a cornerstone investment in Apollo Global Management's S3 platform.
Morel took the helm of the secondaries business following the departure of Ludovic Douge to DC Advisory.
The bank will focus on capital call lines and GP financing for mid-market funds with the hire of Olivia Deroy who had worked at First Republic.