CalPERS plans to trim PE portfolio
CalPERS is cutting its relationships with managers and paring back private equity, but it's unclear if it will use the secondaries market to do so.
Abbott buys into HgCapital 5
Abbott Capital plans to invest between $50m and $100m in secondaries each year.
Proskauer: restructurings on the rise
Proskauer partner Sean Hill said this week that fund recaps will become a more common strategic management tool.
San Diego won’t use secondaries to reduce PE fund managers
The San Diego County Employees’ Retirement Association plans to reduce the number of private equity funds in its portfolio from 53 to between 25 and 35.
Setter: deal volume exceeds $49bn
Private equity secondaries accounted for three-quarters of total activity last year.
Columbia University sells Patron RE stake
The Columbia University endowment has sold its interest in Patron III, a €868m real estate opportunity fund.
Hogan Lovells advised 62 secondaries deals in 2014
Hogan Lovells advised on £432m-worth of private equity and infrastructure secondaries deals last year.
Median bid for LP stakes estimated at 84% NAV
The median bid for limited partner stakes trading on the secondaries market grew 1.2 percent year over year.
Cogent, Credit Suisse and Park Hill dominate advisory work – exclusive
The trio of advisors brokered circa $25bn in transactions last year, accounting for nearly half of all estimated secondaries market activity.
Mizuho sells 3i, Cinven stakes to Lexington
The 3i Eurofund V and Carlyle European Partners III are included in the estimated $1bn portfolio Mizuho has sold to Lexington.
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