The investment banking arm of Daiwa Securities Group has grown its secondaries advisory team to six people.
Strategic Partners, formed in 2000, has grown rapidly since its acquisition by Blackstone into one of the largest secondaries buyers in the market.
The buyout firm and owner of UK supermarket chain Asda has mandated Rede Partners to explore a process on its third and fourth flagship funds.
Unrealised assets in private credit funds sit at around $1.5trn, partner and global head of private credit Rick Jain told Secondaries Investor this year.
Abu Dhabi Investment Authority's secondaries activity last year included making a cornerstone investment in Apollo Global Management's S3 platform.
Morel took the helm of the secondaries business following the departure of Ludovic Douge to DC Advisory.
The bank will focus on capital call lines and GP financing for mid-market funds with the hire of Olivia Deroy who had worked at First Republic.
The pension system, which has a separate account to invest in LP stakes, is expecting a buyers' market and an uptick in secondaries dealflow.
JPMorgan re-joins the secondaries fray as the firm’s last secondaries fund closed in 2016.
The rationale for the deal is to provide liquidity to investors in older funds while still holding the assets.
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