News & Analysis

The investment bank is the latest adviser to tap peers for secondaries talent, with Moelis hiring Matt Wesley from Jefferies this year.

The firm is investing its $2.5bn Ashbridge Transformational Secondaries Fund II, which closed in 2023.

Brentwood Associates’ latest secondaries process follows a fund restructuring deal undertaken by the PE firm in 2021.

The deal marks the first CV for mid-market specialist Estancia Capital Partners, Secondaries Investor understands.

The €250m CV for biogas company Grupo Gestcompost is the largest transaction of its kind for Barcelona-headquartered Suma Capital.

Montana Capital Partners acquired the interests via a strip sale which it then transferred over to a new vehicle managed by Prudential Financial.

Credit transactions accounted for 8% of the total $89bn LP-led volume last year, according to a report from Evercore.

The single-asset process will allow the firm to hold onto a software company which was part of a multi-asset deal it ran in 2019, Secondaries Investor has learned.

While there was a flurry of LP-led activity in Q1, much of this was driven by processes that fell into the new year from 2024, according to panellists at a BVCA secondaries summit last week.

HarbourVest and Goldman Sachs are understood to be the lead buyers on the multi-asset continuation fund and a single-asset continuation fund, respectively.