News & Analysis

Abry Partners’ move to seed a new private credit strategy via a continuation fund marks the latest credit secondaries deal used to kick start a new business line.

Transfer agreements are seen as a $100,000 ‘copy & paste job’ by some and ‘complex legal contracts’ that law firms are losing money on by others.

Data from the consultant prepared for Teachers’ Retirement System of Louisiana shows the strategy still has room to grow.

The firm was best positioned to know the asset well, which helped inform its ability to set an appropriate price, according to Kian managing partner Kevin McCarthy.

‘I can hand on heart say there has never been a deeper, more robust pipeline than the one that we have right now,’ HarbourVest’s Jeff Keay told Secondaries Investor on the back of its $15.1bn flagship raise.

The decision comes as part of ERS Texas’ continued commitment to the private equity asset class, bumping its fiscal year 2024 target up $50m from last year’s $600m targeted commitment.

Commonfund Environmental Solutions II has sleeves for private equity fund investments, direct and co-investments, secondaries and real assets.

The hires come after the asset manager brought on its first London-based, dedicated secondaries professional in April.

Aizawa AM’s third flagship, which held its final close this year, is already 85% deployed, chief executive Shinichiro Shiraki tells Secondaries Investor.

The attractive risk-return profiles of secondaries funds will last as long as buyers continue to acquire good-quality assets at significant discounts, according to research from Seine Capital.