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fund extension

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.

Motion Equity restructuring cost $430m

New details have emerged on HarbourVest’s ‘rescue’ of Motion’s €1.25bn Fund II, one of the first major restructurings of a tail-end fund in Europe.

Morgan Stanley buys into Ferrer Freeman Fund III

The secondary sale and fund extension was approved by 100% of limited partners in FFC Partners’ Fund III.