News & Analysis

There have been six meaningful M&A deals for secondaries firms this year, with a seventh rumoured to be in the works.

The secondaries pioneer’s Beijing office opened in March and is led by Hong Kong-based partner and head of Asia Peter Kim.

VC Secondaries Fund V is being raised by the recently acquired Greenspring Associates team, whose last independent secondaries fund was $800m in size.

Buyers have become more selective, according to the eponymous firm’s founder and chief investment officer.

The Minneapolis-headquartered firm is investing the $220m Clean Growth V, which counts Oklahoma Police Pension and Retirement System among its investors.

The investment bank has run what is understood to be its first GP-led secondaries process on PE assets in a CPP Investments-backed process.

The $49bn state pension cited the glut of dry powder and new entrants into PE driving a desire to consolidate manager relationships.

Let us know your highlights from the past year in what will be the 20th year of affiliate title Private Equity International’s PEI Awards.

The liquidity provider closed its debut fund in 2019, with support from Coller Capital, Goldman Sachs Asset Management and Morgan Stanley AIP.

The transaction, which involved a global portfolio of mid-market and growth-focused fund and co-investment stakes, is the third such process the pair and Hermes GPE have partnered on.