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Appointments follow those of executives from Morgan Stanley, Greenhill and Goldman Sachs in the last six months.

Two managing directors have been made partners of the Carlyle Group as the firm prepares to expand its London-based secondaries team.

Ropes & Gray advised on more than 150 deals worth $17.5bn in 2019, according to the Secondaries Investor Law Firm Survey 2020.

The swift growth of the secondaries market means it is a struggle to find people with the right skills and the pivot towards GP-led deals has added to this.

The independent advisory industry has had to navigate a material increase in regulatory burdens due to the UK’s departure from the EU, chief executive Andrew Sealey told Secondaries Investor.

The alternatives manager is investing flagship secondaries fund Dover Street X, which closed in October on its $8.1bn hard-cap.

The secondaries giant opened a São Paulo office in January, its second in Latin America, as it looks to build relationships with local GPs and investors.

The firm, which rebranded to Sera Global last week, will expand its offerings including across secondaries and liquidity options for real estate.

Experienced GP-led secondaries professionals are in high demand, and we are unlikely to have seen the last on the subject of this week’s high-profile break-up.

The appointment comes as the firm seeks to raise more than $10bn across various funds in its next fundraising cycle.