The investment bank's capital solutions team has advised on around $68bn of secondaries, direct and co-investment transactions.
Asia and Australasia secondaries accounted for around 4-5% of both LP-led and GP-led deal volume last year.
Tender offers plus staples can be a powerful tool to provide liquidity to cash-strapped LPs; some buyers say they have different thoughts.
The transaction follows another lead position for Montana on a €146m single-asset vehicle last year.
Regulators have accused funds of foisting their fiduciary duties onto outsourced firms.
The VC secondaries specialist reached the $850m hard-cap for its predecessor, which held its final close in 2021.
As prices generally come with discounts to net asset value, existing LPs have been slow to sell in tender processes.
Investing in private debt fund stakes and assets would be a natural extension for the firm, chief investment officer of wealth and asset management Julian Salisbury tells Secondaries Investor.
The transactions sees four assets moved from Amsterdam-headquartered private equity firm Bencis’ €408m Bencis Buyout Fund IV into the new vehicle.
The firm wants to move CycloMedia and Digital Barriers into a separate vehicle with as much as €300m in NAV.
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