Europe

Bankia offloads VC stakes

The Spanish banking giant has sold a 28-strong portfolio of venture capital funds.

One-quarter of all 2013 transaction payments deferred

Report from global advisory firm Evercore puts deferred payment arrangements on a quarter of all transactions last year.

Evercore: distressed sellers 1% of 2013 market volume

Demonstrating how much the secondaries market has changed, last year only 1% of activity was originated by distressed sellers, according to advisory firm Evercore.

Idinvest closes Fund II on €214m

The Allianz spin-out has deployed approximately €67m already, purchasing LP stakes in SME-focused European funds.

GMT nears fund restructuring deal

Four months of talks between GMT and its LPs to restructure GMT’s Fund II are nearing a resolution, as GMT looks to get back on the fundraising trail to raise €400m for Fund IV.

PE secondaries funds raise $2.3 billion in Q1

Four secondaries funds closed on $2.3 billion in Q1, according to PEI data.

Altius: wide gap in co-investment returns

Adverse selection and portfolio concentration are the main risks LPs face in constructing co-investment portfolios, according to an Altius study.

Newbury breaks Fund III hard-cap

The US-based secondaries firm has held a $1.1bn final close.

Temasek opens first European office

Singapore’s state investment company – which has been active in secondaries in the past – has formally opened in London and plans a New York office opening this year.

Partners Group secondaries co-head to depart

MD and co-head of secondaries Philipp Schnyder has left the firm after 12 years, while managing director and secondaries co-head Howarth has returned to the US after two years in Singapore.