GP-Leds

The investment manager wants to sell the €1bn vehicle before the end of the year and a new structure will be created to manage the portfolio.

Recent failed restructurings have not been in vain: secondaries is an evolving industry and learning from its early missteps.

The direct secondaries firm has hired three investment professionals and opened an office in Bavaria to help it manage the 23-asset portfolio.

Limited partners in the Russian private equity firm's 2000-vintage fund will decide by early September if they want to sell their stakes, Secondaries Investor has learned.

Intermediate Capital Group and Pantheon withdrew from the process to restructure the energy-focused firm's 2006-vintage $7.8bn fund last week.

Jordan Bradley joins New 2nd Capital as a partner after spending 10 years at the fund of funds, Secondaries Investor has learned.

Some GP-led deals fail due to a lack of trust, and GPs should be completely transparent about any benefits they receive, according to law firm Proskauer Rose’s Howard Beber and Michael Suppappola.

Proskauer Rose’s Howard Beber and Michael Suppappola tell Secondaries Investor that despite having healthy scepticism, LPs are increasingly judging each deal on its merits.

The China-focused private equity firm hired Lazard at the beginning of the year to help it restructure its $400m fund, Secondaries Investor has learned.

It’s a chicken and egg scenario for manager-led transactions in a region that is several years behind Europe and North America.