Private equity

A new world order is expected to reshape the private markets opportunity set over the next five years.

Secondaries Investor launches its inaugural Global Market Survey to map the market, its drivers and the changing nature of the asset class.

The pension fund’s sale of private fund stakes in private equity and real estate is understood to be substantial in size, Secondaries Investor has learned.

The deal marks at least the third European CV backed by Carlyle AlpInvest and HarbourVest this year.

The $524.4bn investor has been actively using the secondaries market as a portfolio management tool, as well as for buyside opportunities.

The deal is the largest Dawson has completed and comes as the firm continues to raise its largest flagship vehicle to date.

The $38bn pension fund targets 40% in buyouts, 30% in secondaries, 20% in growth and 10% in venture capital within its PE portfolio, says CIO Hazman Hilmi Sallahuddin.

The wider deal, including joint venture partner Nestlé’s own equity portion, is €6.5bn in size, Secondaries Investor understands.

Continuation funds ‘need to be managed quite carefully, with a lot of communication and conflict management’, according to GIC’s Asia PE head Ankur Meattle.

A conversation with a secondaries player about an LP commitment sparked the former Cinven dealmaker’s idea to launch a tertiary platform.