Secondaries Investor’s annual law firm survey saw an increase in funds of funds and secondaries funds’ sell-side activity and a rise in complex deal types.
The Swiss asset manager acquired Akina Partners in February 2017 and their operations have been largely separate up until now.
This is the Californian pension fund's first real estate secondaries commitment and first investment with the Swiss firm.
Plans to simplify the limited partnership agreement are ambitious, lawyers say.
The firm has opened offices in Chicago and Los Angeles as it continues expanding its secondaries advisory and fundraising business.
The firm's latest real estate secondaries fund has received a commitment of $50m-$60m from a California pension fund.
In February, Altamar Capital Partners hit a €541m final close on its latest secondaries fund. Managing partner Miguel Zurita speaks to Secondaries Investor about the fundraising and what to expect next.
The $50bn pension fund has made exploring the secondaries market, as a buyer and seller, a key strategic priority.
High pricing, more robust information and GPs being more actively involved in deals will lead to an increase of around 25%, according to research by Lazard obtained exclusively by Secondaries Investor.
The strategy, which is run by Ardian and Lexington Partners, delivered a 16% return since inception for the $210bn US pension.
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