Private equity

Asia and Australasia secondaries accounted for around 4-5% of both LP-led and GP-led deal volume last year.

The transactions sees four assets moved from Amsterdam-headquartered private equity firm Bencis’ €408m Bencis Buyout Fund IV into the new vehicle.

The firm wants to move CycloMedia and Digital Barriers into a separate vehicle with as much as €300m in NAV.

Goldman raised $10.3bn for predecessor Vintage VIII against a target of $7bn, according to Secondaries Investor data.

Though fund sponsors do not value portfolios on a daily basis, comparisons can theoretically be drawn between public stock market pricing and LP secondaries trading.

The firm took up a managing director from its founder’s old employer, while tapping three other firms to expand its platform.

There is an expectation that tender activity will increase as GPs look for ways to deliver liquidity back to LPs as exits slow, and at the same time boost fundraising in the sluggish environment.

Eurazeo and Pantheon are also understood to be participating in the transaction in the buyout firm’s 2013-vintage Fund IV.

Pricing of assets and LP stakes remain points of contention between buyers and sellers, which has made it challenging for secondaries deals to reach final close.

Matthieu Ducharme’s departure comes two weeks after the firm held the final close on its largest-ever secondaries programme.