Private equity

The fund is seeking $1.2bn to invest in LP stakes, directs and GP-led transactions in funds of between three- and eight-years of age.

The endowment has committed $10m to its latest flagship fund, which is seeking $12bn for secondaries.

Pierre Garnier, who spent three years at Pantheon and was most recently a vice-president at Lazard, joined the preferred equity specialist in June.

Norbert Fernandes, who spent four years at the Singaporean state investment firm, will head up the direct secondaries specialist’s third outpost in the region.

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.

The appointment of Katja Baur follows that of former Adveq chief Sven Liden, who became COO of the secondaries buyer last month.

F&C Private Equity Trust joined Montana Capital Partners in backing the €33m management buyout of Banco Popolare de Vicenza’s PE business.

The industry body is working to educate its members about potential conflicts in such transactions, says chief executive Steven Nelson.

Darren Massara, a managing partner at Asian direct secondaries specialist NewQuest Capital Partners, tells Secondaries Investor why the firm chose to sell a significant minority stake to TPG and what’s next in terms of expansion and new strategies.

Sweetwater is seeking $150m from endowments and family offices to invest in VC secondaries.