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The European direct secondaries investor spun out of National Bank of Greece in 2016 in a process backed by Glendower and Goldman Sachs.
The €21bn transaction is the second large recap the firm has done in five months that utilised little or no secondaries capital.
The sale is one of several that hit the market since the second half of 2021, when traditional LP portfolio sales came surging back into the market.
real estate growth
Large recapitalisations and a rebound in LP portfolio transactions drove real estate secondaries to the highest mark yet.
wind power
A recent GP-led deal involving an evergreen structure represents a novel way for infrastructure investors to hold on to assets. The question is whether such transactions can scale.
The Carlyle subsidiary has hit the hard-cap on ASP VII and raised $1.2bn for co-investments, with support of LPs such as the California Public Employees' Retirement System.
ICG underwrote nearly half the transaction on Curium Pharma, an asset described as 'cream of the crop' by one secondaries buyer.
The flight towards high-quality assets is ongoing as buyers wait for clarity on the real economic impact of covid-19, according to Jasmin Capital's head of secondaries.
Campbell Lutyens worked on $12.5bn of deals last year including five single-asset restructurings, two strip sales and two preferred equity deals.
The €46bn asset manager launched Strategic Equity IV in early November due to faster-than-expected deployment of its current vehicle.

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