co-investment

The $81bn sovereign wealth fund is considering hiring an adviser to feel out pricing in the secondaries market, CIO Marcus Frampton said on Tuesday.

The investment firm has committed to a double-down fund that Kibo Ventures will use to co-invest in existing portfolio companies as part of the transaction.

Unlike secondaries deals, mid-life co-investments do not require the creation of a new vehicle or resetting fund economics.

The international law firm has made seven growth hires into the group since December.

The fundraise is part of total capital commitments of $1.5bn across the most recent series in the firm's family of funds.

The secondaries market features prominently in Redefining Private Equity in the 2020's, a report compiled by Credit Suisse's private fund group.

West coast-based Margaret McKnight had left the Carlyle Group real estate subsidiary in September last year after nearly 14 years.

The distinction between secondaries and co-investments is becoming increasingly irrelevant, according to Patrick Knechtli and Colin Burrow from Aberdeen Standard Investments.

Backers of the the $829m restructuring include Coller Capital, Neuberger Berman and Hellman & Friedman.

The firm has tapped an Adams Street Partners investment professional for its latest senior hire.