Secondaries-focused PA Capital joined forces with New York Life’s private equity affiliate GoldPoint Partners and lender Madison Capital Funding, rebranding as Apogem Capital in April.
The Chicago-based manager will target opportunities where it has an informational advantage that allows it to profit from 'value arbitrage', according to secondaries head Jeff Akers.
The impact secondaries firm has shifted the focus of its clean growth strategy recently to preferred equity structured transactions from traditional LP interests.
The firm has held the final close and first close on its latest venture capital and private equity secondaries funds, respectively, according to chief executive Scott Hart.