Family offices are expected to help boost secondaries dealflow in the last months of 2010, as many seek to replace existing LP stakes with emerging market exposure.
The London-based secondaries investor is targeting European transactions between €5m and €50m.
The $27.4bn endowment – one of the private equity industry’s most influential LPs – will continue to be an active player on the secondaries market, concentrating on ‘best-in-class’ managers.
The infrastructure secondaries opportunity is still at an embryonic stage but has "developed significantly" according to a report from Partners Group, the Swiss alternative assets manager. UK social infrastructure in particular is on the radar of investors.
The listed firm, which has reported strong portfolio company growth in its interim results, looks likely to sell some ‘early secondary’ fund interests to boost liquidity.
Former AXA Private Equity executives Daniel Benin and Barthelemy de Beaupuy have formed Committed Advisors, which also recently hired two more ex-AXA professionals.
Harvard University is reportedly in advanced talks to sell underlying investments in around six US-focused real estate funds to China sovereign wealth fund, China Investment Corporation.
PCG Asset Management will help the $34bn pension rebalance its portfolio, selling older investments and ramping up exposure to international, secondaries and co-investments.
The average high bid for partnership interests across all asset classes reached almost 80% of NAV in the first half of 2010, according to data from Cogent Partners.
The UK pension ‘lifeboat’ has hired Goldman Sachs, Pantheon, Hamilton Lane, Lexington, LGT, Partners Group and RREEF as advisors.

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