News & Analysis

The flight towards high-quality assets is ongoing as buyers wait for clarity on the real economic impact of covid-19, according to Jasmin Capital's head of secondaries.

In the wake of multiple key departures from the market's biggest advisor, the future of the multi-billion LP portfolio market is up for grabs.

The firm has held the final close on its latest secondaries vehicle, which is already 20% committed to deals involving GPs such as Thomas H Lee Partners and Clearlake Capital Group.

The management team of Glouston Partners bought it out of $22bn hedge fund and private equity manager Permal Group in 2016.

Representatives from AlpInvest Partners, NYCRS and the UK's Nest pension fund say it is only when GPs play their part in tackling climate change that LPs can make their portfolios resilient.

Campbell Lutyens worked on $12.5bn of deals last year including five single-asset restructurings, two strip sales and two preferred equity deals.

The €46bn asset manager launched Strategic Equity IV in early November due to faster-than-expected deployment of its current vehicle.

Buyers who have shown interest so far include some traditional secondaries firms, sovereign wealth funds and insurance companies.

Secondaries Investor had reported in May that the former global head of PJT Partners' secondaries unit was to launch a venture with Stone Point's backing.

Brian Mooney is one of seven high-level executives to have resigned from Greenhill's secondaries advisory unit in recent months.