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The four-person team, led by Dan Nolan, has moved to a Swiss outfit and is understood to be working with a US endowment on a portfolio sale.
IDG Capital, which has $20bn in assets, is understood to have run a novel yuan-to-dollar secondaries process advised by Lazard.
The deal involving Medicxi was based around six assets and completed at a premium to NAV, co-founder Francesco De Rubertis told Secondaries Investor.
Los Angeles
The $60bn US pension backed the Revelstoke and Accel-KKR GP-led deals last year and expects to invest in more before the year is out.
An apparent flurry of dealflow doesn’t mean they will all get across the line
Secondary market innovations bode well for investors and GPs that need to be nimble in an evolving landscape, write Mozaic Capital’s Solomon Owayda and Christine Patrinos.
The deal could involve around $100m in follow-on capital, Secondaries Investor has learned.
The tech investor is considering giving LPs the chance to sell or roll in a deal likely to be worth more than $1bn, Secondaries Investor has learned.
This year’s health crisis has made single-asset transactions more appealing for a host of reasons.
High amounts of dry powder, new entrants such as Brookfield Asset Management and a pressing need to extend fund lives could result in the real estate market bouncing back this year.

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