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The preferred equity and NAV lending specialist agreed to be acquired by Oaktree in March and closed its debut fund dedicated to NAV-backed lending in April.
New York
LP scepticism, co-investors’ grievances and a disregard for fairness opinions were some of the secondaries-related themes to emerge at last week’s CFOs and COOs Forum in New York.
London-based Oliver Marcuse has worked on GP-led processes involving Mid Europa Partners and Arcus, as well as portfolio sales for LPs such as abrdn.
The firm has been building out its EMEA secondaries firepower in recent months with hires from Kirkland & Ellis and now Fried Frank.
Marine life seamless pattern. Fish shoal. Underwater inhabitants. flying fish
The firm, which raised €2.6bn this week for its debut lending fund, is agnostic about whether it’s viewed via a preferred equity or credit lens.
Funds set up to allow sponsors to hold assets for longer typically must satisfy both an IRR and MOIC hurdle, research from law firm Paul Hastings has found.

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