Manager Strategy

Recent fundraises for timberland secondaries and GP-led European strategies illustrate a growing trend.

The $65.9bn manager will kick-start its investments in the asset class with secondaries as initial area of focus.

The private equity stalwart has appointed former Investec fund financing veteran Tom Glover to help grow a GP and NAV-based lending strategy.

The private equity giant is looking at opportunities to acquire secondaries firms or set the unit up organically, according to co-president and co-COO Scott Nuttall.

The firm said its focus on 'targeted transactions' rather than buying large LP portfolios will work to its advantage in the current market.

The number of funds coming to market openly offering discounts for early-bird commitments or big ticket sizes is dropping, according to research seen by sister title Private Equity International.

Some board members have voiced concerns about the pace at which the $20bn pension is implementing plans to branch out into secondaries and co-investments.

The market dislocation means there may be more secondaries sellers than buyers, Aksia TorreyCove told the US pension.

Funds managed by AlpInvest doubled fee related earnings to $12m in Q2 2020.

The firm has added a late-stage direct secondaries strategy and a tech buyouts fund in the last five years.