Secondaries players spy opportunity in China reopening
Speaking at the HKVCA’s annual forum, Colin Sau, managing partner of TR Capital, said the firm is increasing its focus on China in 2023 after a slowdown in recent years.
Impact manager Summa working with UBS on single-asset continuation fund
Summa Equity is looking to move Norwegian biowaste company Norsk Gjenvinning from its debut fund to a separate vehicle.
Harvest tender offer closes with what some see as tepid LP sales
The Harvest process allowed LPs in the firm’s seventh and eighth funds to sell their stakes at relatively high prices compared to other recent deals.
TR Capital leads on $150m India multi-asset continuation fund
Other buyers including Axiom Asia, StepStone Group and Unigestion participated in the continuation fund that will house three companies.
Looking back: 5 deals that caught our eye in 2022
A massive LP sale, an energy-focused single-asset deal and an Asian continuation fund were among transactions that stood out during the year.
Ardian and Mubadala Capital reach $2.1bn secondaries deal
Even as secondaries activity slows in the dislocated markets, certain large deals are getting over the line.
Lockheed Martin shops $1bn private equity portfolio
Secondaries activity has slowed as a result of market dislocation and a wide gap between buyer and seller expectations.
Tesco shops £1bn-plus private markets portfolio
The portfolio is understood to comprise private equity, credit, growth and infrastructure stakes in a Campbell Lutyens-advised process.
KSL runs continuation fund process for ski resort platform Alterra
Economic dislocation spurred by runaway inflation and rising interest rates is making it harder to close secondaries deals as the gap between buyer and seller pricing expectations widens.
DigitalBridge mulling second continuation fund
DigitalBridge has used secondaries market technology before, including a 2020 deal with Goldman Sachs Asset Management involving a preferred equity injection.
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