Private equity

Defined contribution schemes in the UK are forecast to grow to more than £1trn in assets by 2030.

Some LPs are on a three-year waiting list to formally transfer fund interests off their books – an issue that could grow as overallocation issues persist.

The former head of alternative investments at healthcare provider Kaiser Permanente is expected to focus on growth equity, VC and secondaries activity.

The portfolio is understood to comprise private equity, credit, growth and infrastructure stakes in a Campbell Lutyens-advised process.

As a growing number of LPs look to buy and sell private equity fund stakes in the coming months, are there bargains still to be had?

Another relatively rare GP-led transaction has closed in the secondaries market, adding to the pool of ever-growing manager types in an already competitive landscape.

There were a meaningful number of sub-$500m mandates launched in the third quarter, focusing on an increased number of buyers with middle market appetite, according to a report from PJT.

More than half of LPs have indicated they will look to deploy capital in secondaries ahead of other well-established strategies such as growth and venture capital, according to a survey of investors.

Landmark Equity Partners XVII raised 40% of its target in a final close last month amid an overall drop in secondaries fundraising among firms so far this year.

The volume of PE secondaries vehicles holding final closes between January and September this year dropped 49% year-on-year, according to Secondaries Investor data.