Deals

The £15bn UK charity is particularly interested in direct secondary deals as it manages and rebalances its alternatives portfolio, Peter Pereira Gray, Wellcome deputy chief investment officer, said at the PERE Forum in New York yesterday.

The $37bn university endowment will make substantial cutbacks to its private equity portfolio, which one secondary investor calls a 'sophisticated' move to sell before other LPs do the same.

Goldman Sachs, Coller Capital and Lexington Partners are reportedly among the groups considering bids for Lehman Brothers’ investments in US and European private equity funds.

The UK technology secondaries specialist will become the new manager of the €36m Lynx Capital Ventures fund, formerly operated by London-based Bear Stearns Asset Management.

The private equity secondaries firm has purchased its first portfolio made up exclusively of Latin American companies from Buenos Aires, Argentina-based Pegasus Capital. The transaction is the first for Paul Capital’s São Paulo office.

The seller of the interest has not been named, though Liquid Realty said the fund manager focuses on core office properties in the West End of London.