FoFs

The asset manager acquired the secondaries and fund of funds arm of ACG Group for €1.8bn last week, marking its entry into private equity.

Asset manager Oddo BHF has acquired the fund of funds unit in its first foray into private equity.

The UK investment manager raised an £845m secondaries fund in 2013 and incorporates the strategy into its growing SMA business.

Secondaries Investor’s annual law firm survey saw an increase in funds of funds and secondaries funds’ sell-side activity and a rise in complex deal types.

The firm has more than tripled its deployment of LP capital through mandates over the past three years as investors seek to avoid the additional fees associated with primary funds of funds.

The fund is targeting primary fund investments, secondaries and direct co-investments in Europe, Asia and emerging markets.

The firm has promoted Lindsay Sharma and Ira Simkhovitch to principals on its secondaries investment team.

The promotions include two to managing director amid a total 16 appointments at the global investment firm.

The Swiss investment manager is seeking a mid-level executive to source and execute transactions from its Jersey City office.

Justin Mallis will work on fundraising activities for the investment firm's institutional strategies.