News & Analysis

PGIM’s MCP expands into the Middle East with senior hire

Montana Capital Partners’ new head of Middle East secondaries investments joins from Mubadala Capital and previously spent over a decade at Ardian, Secondaries Investor has learned.

StepStone doubles target for debut infra raise to reach $1.5bn – updated

The firm’s total infrastructure secondaries programme has secured $1.7bn, adding to a growing pool of capital available to deploy into the asset class.

Swiss LP adviser InPact enters infra secondaries, eyes PE GP-leds

The institution is looking to boost its infrastructure exposure and eyeing further opportunities in private equity and real estate secondaries, says founder and CEO Antoine Prudent.

QIC targets shorter plays amid PE’s liquidity crunch

Co-investments and single-asset CVs offer investors ‘greater control’, partner Zach Jackson says.

CIP bolsters its liquidity capabilities, hiring head of capital solutions

The new head will spearhead liquidity solutions for the firm’s funds and oversee a range of semi-liquid fund strategies for the Denmark-headquartered infrastructure manager.

Secondaries’ emerging leaders: GP-leds to become a proactive portfolio management tool

The GP-led market will become ‘indistinguishable’ from the sponsor-to-sponsor market over the next five years as PE firms seek to gain access to companies via CVs, one 2026 Next Gen Leader says.

CV pricing strengthens amid growing buyer competition

New market entrants are seeking to pre-empt auction processes to ‘differentiate themselves’, according to Lazard’s Kevan Comstock.

Korean LPs embrace PE secondaries, mid-market amid credit controversy

Some institutions are expected to lean into equity-based strategies as they seek a new home for 2026 credit allocations.

Behind the $400m CFO formed by Churchill and Temasek’s Seviora

Churchill, whose parent Nuveen Private Capital received backing from Temasek last year, and the Singaporean investor’s asset management platform Seviora formed the vehicle with collateral spanning PE and private credit, including PE secondaries.

ICG backs Onex’s Ryan again in CV-on-CV process

The process comes three years after Onex first moved the tax services provider into a single-asset continuation fund.