Asia-Pacific

The investment banking arm of Daiwa Securities Group has grown its secondaries advisory team to six people.

Ankita Baheti joins as an investment director based in Singapore as the firm looks to deepen its operations in the Asia-Pacific region.

Permodalan Nasional Berhad has historically allocated more to secondaries due to increased liquidity needs, according to Rick Ramli, chief investment officer for private and strategic investments.

The survey, which compiled responses from 101 senior buyout, growth, private debt, VC, real estate and infrastructure executives globally, found that most GPs observed their LPs had interest in such options.

Ahead of the release of affiliate title Private Equity International’s exclusive ranking of the biggest secondaries capital-raisers over the last five years, Secondaries Investor delves into the funds’ performance.

Sixty percent of mega-buyers transacted on assets that generated a gross MOIC return of 3-4x, according to PJT Park Hill’s half-year report.

Listed alternative asset managers have been sharing their outlooks and fielding questions from analysts on the secondaries market.

GP-led transactions comprised 39% of secondaries transaction volume in the first half, according to Greenhill’s H1 2023 secondary market review.

The total amount raised between January and June eclipses all of 2019 when just $36.9bn was collected in final closes.

Activity has slowed compared with last year’s figures, when the market saw $54bn of volume in the first half.