News & Analysis

The investment firm has delayed a final close first slated for last summer to bring more limited partners on board.

The $50bn pension is searching for a consultant to help it with private markets investments including secondaries.

In this second part of a chapter from The Secondaries Market, Ropes & Gray’s Raj Marphatia and Frank Williams look at the types of representations and warranties, excluded obligations and indemnifications that may appear in Purchase and Sale Agreements.

Limited partners which choose to roll over their stakes in the UK buyout firm's sixth fund's restructuring process were revealed in a UK regulatory filing.

The firm will avoid leverage to fund deals and will instead use a credit facility of up to $360m for deals from its Global Secondary Fund 6, according to a memo revealing fund terms.

The endowment had previously sold about $1.7bn in private equity fund stakes in an effort to cut down its number of manager relationships.

The firm's best performing secondaries vehicle by investment return is its 2000-vintage Lexington Capital Partners IV, documents from a US pension show.

The investment firm's performance fees were boosted by its 2007-vintage secondaries fund, from which it had sold a tail-end portfolio worth around €800m last year.

Investors in private real estate vehicles are engaging in secondaries as a way to managing their engagement with the asset class, delegates at the annual MIPIM conference were told.

The Volcker Rule and other aspects of the Dodd-Frank Act will be scrapped if the bill is passed.