Private equity

The deal comes as LP secondaries sales keep steady and drive activity with strong pricing and sellers eager to capture liquidity from private equity portfolios.

Golding Capital Partners also promoted head of secondaries, Richard Wilmes, to partner-level, a move that underscores the importance of secondaries investments to the firm.

The system has not yet finalised a contract with a secondaries adviser.

As the LP-led market grows ‘white hot’, mosaic transactions are sparking debate among some practitioners over the impact on returns.

$1trn in annual deal volume is achievable with upticks in secondaries trading in non-PE asset classes, NAV lending, preferred equity and GP stakes, according to Whitehorse Liquidity Partners’ founder.

CFES 2 is a multi-strategy impact fund, NPM has learned – the latest in a handful of climate and impact funds with secondaries strategies.

Moonfare already has strong ties to the secondaries market, having partnered with Lexington in 2021 to help users sell their fund stakes.

The continuation fund for global life science ingredients distributor Barentz is understood to be around €850m in size.

The deal is an example of the kind of complex transactions LPs can use to capture liquidity from their private equity programmes at a time of slow exit activity.

LP sales continue to drive secondaries activity as limited partners look for ways to capture liquidity from their illiquid PE portfolios amid a slowdown in distributions.