Asia

Charles Wan, whose departure from Atlantic Pacific was reported in January by Secondaries Investor, will hire up to six people to cover Asia on a primary and secondary basis.

Large recapitalisations and a rebound in LP portfolio transactions drove real estate secondaries to the highest mark yet.

The GP-led specialist, which recently became part of Tikehau Capital, acquired exposure to seven early-stage assets managed by Prime Venture Partners.

The four-strong Asia team, led by partner Vincent Ng, will continue to execute secondaries deals in the wake of Charles Wan's departure, the firm said.

Secondaries Investor will be back on 4 January with more breaking news, analysis and insight on the most-talked about strategy in private markets.

The secondaries pioneer's Beijing office opened in March and is led by Hong Kong-based partner and head of Asia Peter Kim.

The deal marks the second time in four months a large global investor has taken outside capital to free up its balance sheet.

Japan’s regional banks have been expected to be a key source of secondaries dealflow after piling into alternatives over the past decade.

Dominik Woessner, who was a director in Lazard's Singapore-based secondary advisory team, joined Thrive Alternatives in May.

The $500m continuation fund marks the entry of one of Asia's largest buyout shops, MBK Capital, into the GP-led secondaries market.