North America

The appointment is at least the third global hire this year for the investment bank.

‘If you go out five or six years, I think the secondaries market could easily double in size,’ managing director Cari Lodge told Secondaries Investor in September.

The Swiss interdealer-broker brings its secondaries advisory team to 10 members and plans to add more in the coming months.

Dave Philipp has been with the firm since 2013.

The secondaries firm was acquired by Ares Management in March and is targeting north of $10bn by 2022.

The hire will help the firm expand, with an emphasis on GP-leds, access to the secondaries market for private clients and smaller institutions.

Apollo’s deep knowledge of underlying credit investments is the ‘real secret sauce’ in a secondaries business, CEO Marc Rowan says on the firm’s latest earnings call.

The four-person team led by managing director Matthew Wesley will join Jefferies less than a year after joining Guggenheim.

The private equity giant is looking at opportunities to acquire secondaries firms or set the unit up organically, according to co-president and co-COO Scott Nuttall.

Portfolio Advisors Secondary Fund IV has a hard-cap of $2.25bn and is being raised alongside a dedicated GP-led secondaries vehicle.