Talks with alternative buyers are ongoing, Secondaries Investor understands.
The parent company of AlpInvest Partners and Metropolitan Real Estate Equity Management moved on to the photo-and video-sharing platform this week.
The €650m deal moved assets from Recovery Fund 2008 into a new vehicle.
Sean Hill, who spent 12 years at Proskauer, will be based in Kirkland's Boston office.
Jason Sambanju's next venture is understood to be a new Asian secondaries firm.
The stakes were accrued as part of ProSiebenSat 1 Media's 'media-for-equity' programme, through which it exchanges media coverage for equity stakes in promising companies.
The deal involved Varma Mutual Fund Pension selling part of its stakes in two MML Capital Partners mezzanine funds to the investment manager.
The direct secondaries firm formally opened its Mumbai office this week.
Quarterly reports to investors must be explicit on the use of subscription credit lines, while LPs must ask for data that discounts the impact of borrowed cash, the lobby group recommends.
The promotions include Matt Sparks, who has worked on complex secondaries deals, to director.
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