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Access Capital on how to decide when to sell FoF stakes

Co-founder Agnès Nahum and partner Alexandre Delos discuss how the firm uses secondaries as a portfolio management tool and how fund duration and market cycles influence its decision to sell stakes.

Ardian snags $550m Skandia portfolio – exclusive

The Swedish life insurer sold stakes in funds managed by Bridgepoint, EQT and IK, among others.
Nice, France

BEX ditches fees for NGOs in $365m fund close

Fund III is BEX’s first to offer ‘X shares’, which are exempt from management fees and carried interest, for non-governmental organisations and major non-profit foundations.

AlpInvest hires ex-17Capital Young Gun – exclusive

Vjerana Spajic joins the Carlyle unit to focus on preferred equity, six months after Secondaries Investor reported she had left the firm.
Ted Craig

MJ Hudson’s head of private funds departs – exclusive

Ted Craig, a partner and secondaries specialist, has left the London-headquartered law firm and asset management consultancy.

PAI mulls GP-led restructuring on crisis-era fund – exclusive

The buyout firm is exploring options for its 2008-vintage Fund V, which holds the world's third-largest ice cream producer Froneri, in a deal that could be worth close to €2bn.

Morgan Stanley AIP Private Markets CIO to depart – exclusive

Neil Harper, who has been at Morgan Stanley Alternative Investment Partners since 2006 and oversees its secondaries business, is the unit's second senior departure in six months.

Hg explores preferred equity facility on Visma fund – exclusive

The buyout firm has been in discussions with providers over a £500m finance facility for its 2013-vintage HgCapital 7 fund, Secondaries Investor has learned.

Kirkland bulks up European secondaries practice – exclusive

Five lawyers who focus on the sector will join the firm in April, bringing its European secondaries headcount to 15.

Arcano and Adveq among backers of Emeram GP-led – exclusive

The German GP is understood to be working with advisor Park Hill on a tender offer process on its sole fund.
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