direct secondaries

Activity is driven by secondaries and funds of funds aiming to lock in returns and liquidate old vehicles, according to managing partner Etienne Deshorme.

Compass Partners built its position in Rodenstock via two direct secondaries transactions funded by secondaries buyers.

Secondary Fund IX is the largest raised by the San Francisco-based manager across its secondaries, fund of funds and direct co-investment platforms.

Revelation Partners will invest in direct positions, LP stakes, GP-led deals and to provide follow-on capital in the healthcare sector.

TPG had appointed the former head of secondaries at CPP Investments, Michael Woolhouse, in July to lead its expansion in North America and Europe.

Flashpoint Secondary Fund is anchored by the Scheinberg family office, which represents the founders and former owners of online gaming website Pokerstars.

The Nordics-focused manager started the Edda series of funds in 2018 to complement its longstanding direct secondaries offering.

The firm is also expanding its regional footprint with the opening of an office in Shenzhen, Secondaries Investor has learned.

The firm, which last week closed the sale of a minority stake in Pensions Insurance Corporation to a UK family office, will begin marketing Keyhaven Secondaries Fund III next year.

VC-focused NewView Capital was formed by a $1.4bn direct secondaries deal backed by Goldman Sachs and Hamilton Lane.