Montana Board of Investments sold out of the Chicago firm’s Fund IV at a premium, with an undisclosed buyer committing to Fund V.
The investment from the Swiss pension includes a commitment to the firm's timberland fund which focuses on secondaries.
The fund's purchases include stakes in two Akina Partners funds acquired with secondaries firm Newbury Partners.
The firm makes direct secondaries investments in high-growth tech companies.
Firms should review whether capital from reinvestment or subscription credit lines should be included in IRR calculations.
The tilt towards sellers will only become more pronounced, according to research by PEFOX.
In this third excerpt from sister publication Private Equity International's secondaries roundtable, some of the market’s top participants discuss the use of leverage to boost returns.
Strategic Partners VII has picked up a glut of stakes in technology-focused funds.
Pricing has reached 'unusually high levels', according to the investment firm's chairman.
The Hong Kong-based team has signed two deals since August, executives at Canada's largest pension told Secondaries Investor.