North America

The top force fuelling M&A among private markets managers is the ambition to become as relevant to private wealth and insurance money tomorrow as institutional capital today.

The oversubscribed vehicle adds to an already lucrative, record-breaking fundraising year for secondaries.

Strategic Partners Fund X is seeking $22.5bn, documents prepared for a US pension’s meeting this week show.

The small buyout specialist’s latest secondaries vehicle surpassed its $1bn target and will invest in both LP- and GP-leds.

Hans Swildens weighs in on Industry’s sale to Goldman Sachs, who the most active sellers in the venture secondaries market are, the current NAV discount for venture assets and more.

Speaking at the CAIS Alternative Investment Summit last week, executives from both firms agreed asset quality has become a more important driver of returns.

LACERS CIO Rodney June: ‘The opportunity set has grown’ in private equity secondaries market as $26bn pension eyes potential participation.

Unrealised NAV sitting in PE funds will ‘get bigger over the next five years before it shrinks’, according to the firm’s president Wil Warren.

SQ Capital was the lead buyer of the $160m CV for portfolio company TeamDynamix, understood to have been run in an off-market deal with no bankers involved.

The Toronto-based opening comes a year after the launch of Coller’s Montreal office.