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Good deals at a discount have been becoming harder to find in Europe for a while now, so what are GPs doing if they’re not playing the discount game?
The Swiss fund of funds, formerly known as APEN, continues its new strategy of focusing on co-investments and secondaries in emerging markets.
Brazil
Laurence Allen, chief executive of NYPPEX, recommended that its clients sell interests in PE funds exposed to countries such as Brazil.
Some of the best emerging markets secondary opportunities can be found in Asia.
Fund of funds firm Mantra expects to close its latest fund in the next four weeks after 10 months of fundraising. The firm focuses on niche and listed private equity strategies in sectors including oil and gas, mining, litigation funding, intellectual property and agribusiness.
PineBridge closed its third secondaries fund on $308m, shy of its $500m target last month.
A recent report from Houlihan Lokey and Mergermarket revealed the greatest opportunities for Asian secondaries buyers are in China and India.
Institutional investors are now investing in the global secondaries real estate market, with China being a potential market in Asia.
PineBridge Secondary Partners III had been targeting $500m.
Hong Kong-based NewQuest Partners is seeing a more robust pipeline build up in Asia’s direct secondaries market, particularly in 2004- to 2007-vintage funds.
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