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Renegotiating the LPA: basics

Proskauer's Nigel van Zyl explains the key commercial, legal and investor relationship issues GPs need to consider before amending the agreement's provisions or restructure funds.

ICG returns seeking $1.6bn – exclusive

The firm's last dedicated secondaries fund, focused mainly on end-of-life processes, closed in April 2017 on $1.1bn.

LGT and Idinvest back Halder fund extension – exclusive

The German mid-market buyout firm has extended the life of its 2008-vintage fund by two years in a deal advised by Rede Partners.

PE value creation is limited after year 9

Median funds generate limited value after year 9, but lower tier funds generate more value during the back-end of their life, according to Pantheon.

Morgan Stanley AIP hires secondaries exec

Kumber Husain has joined the firm as an executive director focused on private equity secondaries.

17Capital: Structured transactions on the rise

Structured transactions are emerging as an alternative to a straight secondary sale for investors who think their portfolio has more to give.
Handshake

Northleaf secondaries fund closes on $255m

The Toronto-based private equity firm’s specialist secondaries fund has beaten its $200m fundraising target, according to managing director Jeff Pentland.

Newbury breaks Fund III hard-cap

The US-based secondaries firm has held a $1.1bn final close.

CVCI fund sale will exceed $2bn

The complex sale of CVCI fund interests by TRG includes Citigroup balance sheet, employee and client money that push it in excess of $2bn.

PSERS earmarks $200m for secondaries, co-investments

In a bid to reduce fees and bolster existing relationships, the US pension will put $100m to work in both its real estate and private debt co-investment and secondaries programmes.

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