Europe

Montagu Private Equity’s latest CV is one of the largest single-asset deals to come out of Europe this year as GP-led secondaries activity continues in earnest in the region.

Belgian holding company Groupe Bruxelles Lambert has confirmed its unit GBL Capital will no longer make new commitments as it secures a dozen transactions.

In conjunction with the transaction, StepStone has increased its record-breaking SREP V secondaries fundraise to €5.3bn.

The real asset veteran, a keen buyer of infrastructure secondaries, says she is ‘cautious’ about touted pricing for infra secondaries transactions.

Secondaries Investor launches its inaugural Global Market Survey to map the market, its drivers and the changing nature of the asset class.

The firm is looking at launching other strategies and offices, and is seeking to expand its primary programme, founder Michael Bego told affiliate title PE Hub.

The CV from enterprise software investor is the latest deal from Europe, a region that continues to be on a GP-led tear.

The deal marks at least the third European CV backed by Carlyle AlpInvest and HarbourVest this year.

The wider deal, including joint venture partner Nestlé’s own equity portion, is €6.5bn in size, Secondaries Investor understands.

The deal marks the latest single-asset process for CVC, which moved Italian online university group Multiversity into a continuation fund last year.