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The line between co-investing and secondaries has become increasingly blurred as buyers show more appetite for single-asset deals.
Yaron Zafir will take a senior role at the placement agent and advisory firm, bringing its number of secondaries advisory professionals to 10.
Market participants from Evercore, Partners Group, Debevoise & Plimpton and Ropes & Gray share their perspectives on running a secondaries auction process that works smoothly for all parties.
Secondaries Investor reported last week that Jon Costello had resigned after four years with the investment bank.
The team including partners Oliver Rochman and Rob Mailer comes from Morrison & Foerster.
Jon Costello
Jon Costello joined the investment bank in 2016 and was promoted to head of secondaries advisory the following year.
The team, led by managing director Dan Nolan, joined from interdealer broker Tullett Prebon in 2018.
Valuations and pricing have become closely linked as buyers put less emphasis on future upside when evaluating assets, according to Elm Capital.
A snapshot of law firms' secondaries work last year by volume, deal count, strategy and more in our latest annual report.
The appointment is the second senior hire within the investment bank's private funds group this year after David Andrias joined from Houlihan Lokey in March.

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