Preferred equity

Portfolio finance can offer an attractive alternative to fund defensive and offensive strategies, says the firm's managing partner Pierre-Antoine de Selancy.

The preferred equity specialist says it closed transactions this year across Europe, North America and Asia from a total pipeline of around $20bn.

The firm has added 29 staff this year, including two from British Columbia Investment Management Corporation and Citco Canada.

The pandemic may not have triggered a wave of secondaries buying opportunities, but the effects of the coronavirus are manifesting themselves in subtle and significant ways.

The appointment of Myriam Vander Elst follows that of an ex-Wells Fargo subscription finance executive in May.

The investment comes from Goldman's Vintage Real Estate Partners II, which closed in May on $2.75bn.

The once niche strategy has gained traction in the face of stiff competition from banks and debt funds, data from the advisor's mid-year report show.

Ottawa Avenue Private Capital, a subsidiary of RDV Corporation, is set to receive liquidity via a preferred equity and traditional secondaries transaction.

The UK mid-market buyout firm has been working with advisor Goldman Sachs on securing financing for its 2015-vintage fund.

The appointment follows that of Daniel Lee as head of fundraising and investor relations for North America in April.