Canada

A survey carried out by 17Capital suggests most LPs do not feel their liquidity needs are met by the secondaries market.

The preferred equity specialist has raised $729m a month after Secondaries Investor reported that the firm was preparing to hold a close in the first quarter.

Matt Shafer will lead the New York team and focus on the origination and execution of secondaries transactions.

The fund has a 14-year life and 60% of the GP commitment will be put forward by the firm's parent.

The preferred equity specialist is targeting $750m for Whitehorse Liquidity Partners II with a $1bn hard-cap, Secondaries Investor has learned.

Former CDPQ private equity head Patrick Lynch is to join Fiera Comox, a Montreal-headquartered joint venture founded in 2016.

The firm sold a portion of the stake to unnamed limited partners for $198m, chief financial officer Chris Govan said in a Q3 earnings call.

The firm's main business is giving Canadian investors low-cost access to KKR funds through a Canada-domiciled vehicle.

The Canadian investor had brought a portfolio of private equity fund stakes to market in the first half of this year.

Benjamin Wu will focus on secondaries, directs and primaries from the firm's Toronto office.