The London-listed private equity investor has accepted HarbourVest's offer to acquire its portfolio after the global investment firm raised its offer by £24m.
Secondaries buyers' desires have changed over the last 18 months with safer mega-funds more popular than niche strategies, according to Palico.
The sale is worth as much as $200m and comes as secondaries funds and funds of funds increasingly tap the market to dispose of tail-end interests.
Shareholders in the London-listed private equity investor now have until Tuesday to accept HarbourVest's offer for the company.
Secondaries funds themselves were among four strategies that had rises in pricing amid overall drops during the period.
The credit specialist has hired a former PineBridge Investments secondaries specialist as it launches a fund restructuring business that also offers preferred equity.
After a dip in 2015, secondaries fundraising is resurgent, as data from PEI Research and Analytics shows.
An overwhelming majority of investors in the Swiss firm's sole fund have agreed to sell their stakes to the bank's private equity unit, Secondaries Investor has learned.
Blackstone, Fenway Partners and Blackstreet Capital Management were among the firms to be slapped with multi-million dollar fines including one charge related to a secondaries deal.
Jason Gull will retire at the end of the year from both the global investment firm and the industry, Secondaries Investor has learned.
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