tactical chess
The $217.5bn US pension set up an SMA with Aegon Asset Management last year and has been bidding on energy fund stakes.
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Coller Capital's latest findings are in line with PEI's LP Perspectives 2023 Study in which 22% of respondents said they intend to sell stakes only over the next year.
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The proposals from earlier in the year include the requirement to obtain a fairness opinion on GP-led transactions and a requirement to report GP-led activity within one business day of close.
US dollar appreciation
The mature stakes-focused vehicle attracted more than double its predecessor, Hollyport Secondary Opportunities VII, which raised $1bn.
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The investment firm's Japan office marks 'an initial step in the region', APAC head Jeff Pentland said, and could precede the opening of a third Asia-Pacific location.
Large single-asset deals in the real estate and infrastructure sectors have been driven by specific dynamics, according to panellists at PEI Group's Women in Private Markets Summit.
Investor appetite for GP stakes funds has expanded rapidly, and some LPs are still treading carefully.
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The mid-market investment bank earlier hired Alex Mejia from Goldman Sachs to co-lead its GP-led focused advisory business.
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The firm’s predecessor vehicle, Lexington Capital Partners IX, closed on $14bn in 2020.
As affiliate title Private Equity International celebrates its 21st anniversary this December, we look back at how far the secondaries market has come over the past two decades.
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