The investment banking arm of CBRE Group advised on 187 fund interests that were transferred during the year, with deal volume brokered by the firm hitting a record $2.4bn.
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A senior member of the firm has relocated to New York to lead a three-person team as it expands its secondaries brokerage operations, Secondaries Investor has learned.
The specialist investment bank has hired a former Cogent secondaries professional to focus on GP-led deals and restructurings.
The alternative assets specialists has advised on more secondaries deals so far this year than all of 2014.
The former UBS exec has started in Evercore’s London office, and is one of a number of staff to make the switch.
The appointment of Michael McKell in a newly-created position comes at a time when buyers are increasingly interested in real estate secondaries.
With its recently launched matching engine for alternative investments, Tullett Prebon is hoping to facilitate transactions in the secondary market for sellers and buyers, says Suchita Nayar, head of alternative investment North America at Tullett Prebon Alternative Investments.
The highest prices for LP interests ranged from 100 percent to 102 percent net asset value during the first quarter, according to NYPPEX.
Online engine aims to bring greater efficiency and liquidity to the secondaries market.
CBRE is readying for an increase in one-off transactions that take advantage of immediate pricing opportunities, says senior managing director Philip Barker.