Tail-End Funds

The deal included stakes in Bridgepoint, BC Partners and DH Private Equity Partners funds.

The buyout firm wants to move Swedish chemicals producer Perstorp into a continuation vehicle, Secondaries Investor has learned.

The deal is one of the largest LP portfolio transactions.

Built-in liquidity solutions or asset rollovers will soon take care of ageing funds.

Secondaries Investor Young Gun Bernhard Ellmer had been at the advisory firm since 2012 and a partner since 2016.

Tail-end specialist Hollyport Capital backed the deal involving the buyout firm's 1998-vintage fund, including a discount of as much as 70% on the GP clawback.

Around half the investors in the fund, which is nearly double the size of its predecessor, are from charitable organisations.

The UK pension plan born out of the bankruptcy of photography giant Eastman Kodak has offloaded stakes in Bridgepoint and PAI Partners funds, among others.

The firm, founded by an ex-Merrill Lynch Global Private Equity executive, is exploring a process involving its 2006-vintage fund which is heavily exposed to the UK consumer sector.

Data from NYPPEX and Elm Capital show holding on to the oldest of these assets might not be worth the trouble.