North America

UBS taps Jefferies for GP-led hire – updated

The hire comes after the global investment bank appointed a new Europe-based professional to lead its EMEA business earlier this year.

Guy Hands’ Terra Firma gives LPs choice to cash out of residential homes asset

The deal involves Annington, which was created when Hands helped Japanese bank Nomura acquire military homes in 1996 from the UK government.

Corsair runs single-asset process on B2B payments company TreviPay

Of the $60bn of third quarter deal volume, GP-leds represented about 52%, according to PJT Partners data.

Zombie funds explode to all-time high

Research provided to affiliate title Buyouts by TREO indicates the global volume of AUM of tail-end funds, or TEFs, hit $829bn in 2024, up 24% from 2023.

Riverstone runs single-asset CV on oil and gas storage company

An LP has received a re-investment option and a liquidity option, with the latter offered at a discount to current valuation.

Pantheon and Partners Group co-lead on $800m-plus independent sponsor CV

The $835m CV for Trading Technologies is the largest known GP-led secondaries process run by an independent sponsor, according to Houlihan Lokey’s Michael Pilson.

TowerBrook runs single-asset process on EisnerAmper

The CV for the accounting business could raise more than $1bn, Secondaries Investor understands.

The growth spurt of CVs is far from over

With more players and larger funds, the secondaries market is seeing a lot of CVs north of $1bn. The long-term growth of sizeable deals requires significant backing.

Strategic Partners, Neuberger step up as lead investors on Trilantic’s ‘precedent-setting’ full-fund CV

Trilantic’s deal is viewed by many in the secondaries market as a potential precedent setting transaction that could serve as a model for other mid-market firms facing fundraising challenges.

Morgan Stanley parts ways with global secondaries head

Nash Waterman’s departure comes three months after HIG Capital poached four members of the bank’s GP-led secondaries investment team.