Deals

BlackRock, HarbourVest lead rare VC continuation fund run by Inovia

The secondary is the first for Inovia, and represents a rare instance of not only a large continuation fund process in Canada, but one that involves VC assets as well.

Harvard sells $1bn of fund stakes

Ardian acquired a majority of the portfolio, offloaded to crystalise returns after a fiscal year in which Harvard’s PE portfolio returned 77%.

Ardian backs $1.5bn Churchill secondaries, co-invest deal

Ardian has backed several sizeable deals designed to grow an investment manager’s third-party AUM, involving groups such as Mubadala and John Hancock.

CAA completes major add-on after TPG closes out single-asset deal

The process on the world’s second-largest talent agency was led by Goldman Sachs, with ICG and Neuberger Berman as part of the investor group.

Investcorp backs $261m BKM recapitalisation

The firm has used the secondaries market to institutionalise its investor base and is increasingly appearing as a buyer in real estate deals.

BlackRock leads continuation fund deal on a continuation fund

The single-asset process is focused on Hispanic food-focused Flagship Food Group, which was subject to a GP-led process in 2018.

HarbourVest backs Spanish stapled restructuring with a twist

The investment firm has committed to a double-down fund that Kibo Ventures will use to co-invest in existing portfolio companies as part of the transaction.

Brookfield backs recap as it hits RE fundraising trail

The process involving Elion Partners is at least the third sizeable deal executed by Brookfield since entering the real estate secondaries market last year.

Brookfield’s EnLink deal is further evidence the definitions of secondaries are expanding

The firm’s $841m acquisition of preferred equity stock in a midstream natural gas company shows infrastructure deals come in all shapes and sizes.