Private equity

ICG LP Secondaries Fund I has completed seven transactions and is already around 50% committed.

Dawson believes it can differentiate itself in a rapidly growing secondaries market by using scale, founder and managing partner Yann Robard tells Secondaries Investor.

While Leonard Green’s transaction is giving cash-out LPs the benefit of both processes, the ‘quick flip’ issue remains controversial in continuation fund deals where assets are quickly exited.

ICG and Manulife closed on their respective debut LP-led and GP-led vehicles this week. Both firms believe the secondaries market will continue to specialise in this way – they’re just early adopters.

Manulife Investment Management has held the final close for its debut vehicle, private equity-focused Manulife Strategic Secondaries Fund.

Kaiser came out atop of the secondaries category in affiliate title Buyouts’ Deals of the Year awards. The non-profit healthcare organisation deftly closed its portfolio sale last year despite market turbulence, price fluctuations and the banking crisis.

Including co-investment vehicles and SMAs, the firm’s LP secondaries strategy has received total commitments of $1.6bn.

The Singapore-based fundraising platform is seeking to co-launch a secondaries fund alongside experienced GPs that will target individual investors.

Continuation fund will hold Wellspring portfolio companies SupplyOne, Cadence and Pentec Health, and includes $125m of unfunded capital for growth.

Shin Kong Life’s portfolio sale comes just weeks after Cathay Life sold $1.2bn of fund stakes to HarbourVest, as impending regulatory changes prompt insurers to rethink their private markets exposure.