Private equity

Milwaukee pension resists secondaries sales despite overallocation to PE

CIO of $6bn Midwest pension would prefer the system remain ‘more of a buyer than a seller’ when it comes to private equity funds.

Top buyers dominated secondaries deal activity in H1 2025 – Campbell Lutyens

Just 17 buyers accounted for nearly 70% of total secondaries volume in the first half, according to a report by the advisory firm.

Sterling Investment Partners eyes single-asset process for Xylem Kendall

The firm is understood to be running a process to move the vegetation management services company out of its $934m Fund IV and into a new vehicle.

Blackstone targets $22bn for Strategic Partners Fund X

‘The returns have been very strong over time in this area, and that’s making it attractive to investors,’ COO Jonathan Gray said of Blackstone’s secondaries business.

Ares’ secondaries unit backs Apax Global Alpha take-private

The transaction involves a continuation fund-like structure, Secondaries Investor understands, and includes an option for backers of the UK investment trust to roll into a new fund, filings show.

CVC returns to secondaries market with Nordic single-asset process

CVC is the latest manager to seek out a large continuation fund for a Europe-headquartered asset, Secondaries Investor has learned.

ADIA, Apollo, Neuberger Berman co-lead Tikehau continuation fund

Tikehau has raised more than €1bn for smart infrastructure company Egis.

LPs benefit from offloading tail-end stakes early – study

An LP that reinvests the proceeds into a first-quartile fund would see their portfolio outperform the value of holding the tail-end asset by year two – even assuming a 20% discount, according to research from Upwelling.

UTIMCO scales up PE exposure, considers secondaries market

The endowment increased its 2026 policy target for private equity, looking to hit a 30% allocation mark in coming years.

Hong Kong Jockey Club seeks to offload $500m portfolio

Sports-focused foundation joins a number of APAC institutions seeking liquidity via the secondaries market this year.