Following HarbourVest’s decision to walk away from a signed secondary transaction last week, sellers of private equity fund interests are concerned that buy-side MAC clauses will complicate secondaries activity even further.
The US secondaries, fund of funds and co-investment firm has brought on Jordan Robinson for product development and made additional senior hires for secondary investment and the Asian fund of funds team.
Pantheon International Participations has seen its net asset value grow by more than 20 percent in the last year. Current market conditions are causing the fund to shift focus nearly exclusively to the booming secondaries market.
The promotions of Brett Gordon, Alex Rogers and John Toomey brings to 20 the firm’s total number of managing directors worldwide, with five focused on the firm’s secondaries business and four working on direct investments.