Financial Institutions

Top five secondaries deals of 2023

Both LP-led and GP-led deals made it to the list this year as market participants seek innovative ways to access liquidity.

Mid-market focus a draw for LPs in Pantheon’s $3.25bn PE secondaries raise

Investors in Pantheon Global Secondaries Fund VII include those from the private wealth segment, who invested at elevated levels compared with predecessor vehicles.

Liquidity for rolling LPs: Hellman & Friedman seeks to pay out on older continuation funds

Lead investors on Hellman & Friedman’s deal are Ardian, HarbourVest Partners and Hamilton Lane, sources tell affiliate title Buyouts.

Bullish sentiment remains for secondaries amid macro uncertainties

The secondaries market will boom in 2024 as liquidity concerns persist and LPs look to invest in new asset classes, a panel at PEI’s Women in Private Markets Summit has heard.

Three spaces to watch in the market at year’s end

As we approach the end of 2023, here are three areas to keep an eye on – and yes, they all relate to the secondaries market’s capitalisation.

Adams Street closes 2023 Global Fund on $820m

The fund will invest across multiple strategies including primaries, secondaries and co-investments.

Ex-Eaton exec emerges at Investec to lead GP advisory team

Stefano Manna joins as head of GP advisory and will help the bank provide sponsors with a range of services including single- and multi-asset continuation funds.

HSBC raises latest fund to house private equity fund stakes

Private Equity Opportunities III closed on $738m and includes $100m for new commitments.

Japan’s Mizuho to acquire Greenhill in $550m deal

Greenhill’s private capital advisory unit, which advises on LP and GP-led secondaries transactions, will be included in the acquisition.

Another big sale: Norinchukin Bank shops LP portfolio into buzzing market

The portfolio is among several large trades that have hit the market this year and that are helping to drive LP secondaries inventory to more than $20bn.