Home Direct secondaries

direct secondaries

The secondaries firms have established a £170m fund to acquire assets from 3i that will be managed by DFJ Esprit's nascent secondaries arm, Encore Ventures.
The promotion follows a first close on €61m for the international private equity firm’s sixth fund, which is targeting €200m. As head of finance at the direct secondaries firm, Meyel built the firm's management and control systems.
The direct secondaries firm, which has begun fundraising for Cipio Partners Fund VI in the US, recently purchased 10 venture investments from 3i Group.
The Blackstone spin-out has already held a first close on its second fund to focus on direct venture capital secondaries. It recently acquired stakes in nine new companies including Facebook, Zappos and eHarmony.
The London-listed private equity firm has offloaded a portfolio of 10 venture capital investments to the secondaries specialist. 3i has also exited its growth capital investment in shipping services company Instone International for between €30m and €50m.
The £15bn UK charity is particularly interested in direct secondary deals as it manages and rebalances its alternatives portfolio, Peter Pereira Gray, Wellcome deputy chief investment officer, said at the PERE Forum in New York yesterday.

Copyright PEI Media

Not for publication, email or dissemination