Private equity

In the first PEI awards to give secondaries its own list of winners, Lexington Partners wins Secondaries Firm of the Year in the Americas.

Continuation funds represented about 13% of sponsor-backed exit volume last year, the report said, up from 12% in 2023, according to BlackRock’s 2024 activity report.

The pension fund’s portfolio is the latest LP-led deal to come out of the APAC region.

The Canadian pension fund joins the likes of CalPERS, PSP Investments and World Bank in bringing a sizeable portfolio sale to the secondaries market.

The Taiwanese insurer’s portfolio sale deal could be around $2bn in size, Secondaries Investor has learned.

LPs in the passive index investing firm’s funds will be able to benefit from quarterly liquidity with no fees or caps, chief executive Edward Talmor-Gera tells Private Equity International.

ACP Secondaries 5 is already around 60% deployed and the firm is seeking to capitalise on a lack of liquidity in the underlying private equity market, global chief executive José Luis Molina tells Secondaries Investor.

The multi-asset CV was among several billion-plus GP-led processes that hit the market last year as firms sought to generate distributions for LPs.

The firm’s decision comes two months after Secondaries Investor reported the European manager had put its blindpool GP-led secondaries fundraising plans on ice.

Liquidity remains a main focus in the industry as exit activity has yet to pick up after a multi-year slump.