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Cincinnati-based Fort Washington Capital Partners has closed its third private equity opportunities fund on $150 million.
The trio of advisors brokered circa $25bn in transactions last year, accounting for nearly half of all estimated secondaries market activity.
Long-standing relationships and LP-friendly terms were key elements in HarbourVest’s €215m stapled transaction with Doughty Hanson.
The firm paid €150m for limited partner interests in Funds IV and V, and committed roughly €65m to Doughty Hanson’s latest fund in market.
An increasing number of GPs are giving their existing LPs liquidity options in older funds, as part of their sales pitch for a new fund, according to Tullett Prebon's Suchita Nayar.
Madrid-based fund of funds manager Altamar has invested in nine secondaries transactions using its €150m Altamar Secondary Opportunities VII.
The ICG-NewGlobe development highlights continuing shifts in the secondaries market.
ICG syndicated roughly 23% of the equity it invested in the $860m Diamond Castle IV restructuring.
The Andrew Hawkins-led firm now comprises ICG's secondaries team, whose first deal was for a substantial portfolio of private equity assets from US mid-market fund Diamond Castle IV.
The Edmond de Rothschild spin-out co-led the restructuring of Octopus Investments' Titan VCT fund which managed Graze snack boxes.