FoFs

The €600m SAGA VII can make opportunistic secondaries purchases, according to partner Jesper Knutsson.

Co-founder Agnès Nahum and partner Alexandre Delos discuss how the firm uses secondaries as a portfolio management tool and how fund duration and market cycles influence its decision to sell stakes.

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.

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.

The firm will seek at least €433m for primary, direct secondaries and co-investments in the European and North American lower- and mid-market.

The secondaries giant is understood to have collected at least $9bn for ASF VIII, which has a $12bn target.

Interactive charts showing return expectations, drivers of pricing, use of leverage and other key points from Evercore and Setter Capital's full-year reports.

Two investment professionals who focus on private equity and real estate, respectively, have been promoted.

Stakes in real estate vehicles accounted for 7% of total deal volume last year, according to advisor Greenhill.

The niche secondaries firm switched to US dollars from euros with its latest fundraise.