North America

The pension plans to streamline its real asset portfolio and aims to meaningfully reduce its GP relationships over the next three years.

January through the end of September this year saw 59 known continuation vehicles close, most of which were single-assets, according to data gathered by Secondaries Investor.

New Mountain continues to build out its GP-led strategy following the hire of its co-lead Neal Costello from Carlyle AlpInvest earlier this year, Secondaries Investor has learned.

While LPs are ‘not leaving’ impact, investors have limited capital to deploy into the market, which is heavily dominated by emerging managers, a secondaries buyer said at PEI Group’s New Private Markets Investor Summit.

The New York-based manager has joined a wave of GPs seeking to extend ownership of their best assets through the CV market.

Soma Capital, which manages $1bn, appears to be one of the first venture firms to seek to hire a ‘head of liquidity solutions’.

Lexington is the lead buyer, with Hamilton Lane participating as a co-lead on the deal, which has received strong pricing, sources tell Secondaries Investor.

Amid one of infrastructure secondaries largest ever fundraising years, Ares’ infra secondaries head Edward Keith explains how it seeks to achieve diversification within its funds.

Most real estate GPs have either completed a recap or are actively exploring one, according to Scott Koenig, head of real estate secondaries at Neuberger Berman.

Retail capital focuses on liquidity and consistently high returns – factors that don’t always found the basis of a long-term partnership in private markets.