Secondaries

The investment firm has offloaded a portfolio of stakes from its 2010-vintage secondaries fund, having sold at least $1.5bn to the Blackstone unit since 2017.

The world's largest asset manager has added a director and an associate to its growing secondaries team.

Single-asset deals, preferred equity and asset-class diversity were among the themes to emerge in Secondaries Investor's annual advisory survey.

Fund III is BEX’s first to offer ‘X shares’, which are exempt from management fees and carried interest, for non-governmental organisations and major non-profit foundations.

The departure of MJ Hudson's former private funds head Ted Craig was revealed last week by Secondaries Investor.

Ted Craig, a partner and secondaries specialist, has left the London-headquartered law firm and asset management consultancy.

Neil Harper, who has been at Morgan Stanley Alternative Investment Partners since 2006 and oversees its secondaries business, is the unit's second senior departure in six months.

Declining return expectations, longer deferrals and market volatility are among the factors shaping today's market.

Managing director Tony Cusano was listed in Secondaries Investor's 2017 Young Guns of Secondaries ranking of the most impressive professionals in the industry under 36.

Anyone doubting that Asia could provide meaningful secondaries dealflow should think again.