Co-investment and secondaries funds may be coming into vogue as retirement systems try to reduce fees and take advantage of a volatile market.
building
The fundraising comes as its secondaries unit, Strategic Partners, eyes as much as $20bn for its latest private equity flagship.
Blockchain Technology Concept Multiple
The development of the secondaries market is one based on disruption of an asset class; the tokenisation of private markets funds could follow a similar trajectory.
Ares Landmark fund
Landmark Equity Partners XVII raised 40% of its target in a final close last month amid an overall drop in secondaries fundraising among firms so far this year.
drop
The volume of PE secondaries vehicles holding final closes between January and September this year dropped 49% year-on-year, according to Secondaries Investor data.
PDI Seoul Forum 2022
Pension giant is reviving plans that were scrapped last year, head of the strategic alternative investments Jeryang Lee told delegates at the PDI: Seoul Forum.
The PE lender has hired Dane Graham from RBC after losing two New York-based managing directors earlier this year.
data centre
DigitalBridge has used secondaries market technology before, including a 2020 deal with Goldman Sachs Asset Management involving a preferred equity injection.
The amount of dry powder dedicated to impact secondaries increased markedly in 2022 – if from a very low base.
crowded market
The investment consultant is seeking $250m for a dedicated secondaries fund, following consultants such as Hamilton Lane and StepStone in managing pooled private markets funds.
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