North America

Private wealth capital driving down return targets – PJT

Full-year deal volume could reach as much as $230bn, according to the investment bank’s estimates.

HarbourVest launches its first secondaries vehicle dedicated to private credit

The fund is the latest in a string of launches as the demand for credit secondaries grows.

Milwaukee pension resists secondaries sales despite overallocation to PE

CIO of $6bn Midwest pension would prefer the system remain ‘more of a buyer than a seller’ when it comes to private equity funds.

Lower mid-market GP-led specialist Timber Bay hires IR

The lower mid-market, GP-led specialist Timber Bay Partners is bolstering its platform, joining a slew of other firms looking to do the same.

Macquarie raises more than $700m for debut infra secondaries fund

The fund is slightly skewed towards LP-led deals and looks for opportunistic investments in the GP-led market, head of infrastructure secondaries, Wandy Hoh, tells Secondaries Investor.

Sterling Investment Partners eyes single-asset process for Xylem Kendall

The firm is understood to be running a process to move the vegetation management services company out of its $934m Fund IV and into a new vehicle.

Blackstone targets $22bn for Strategic Partners Fund X

‘The returns have been very strong over time in this area, and that’s making it attractive to investors,’ COO Jonathan Gray said of Blackstone’s secondaries business.

The market’s back on track for $200bn

The secondaries market has remained red-hot. While the area is not without its hurdles, uncertainty in the first half once again reinforced its worth.

Goldman emerges as lead on Accel-KKR’s CV-on-CV deal

CVs of CVs have become a popular tool to maintain control of trophy assets, with several processes launching this year.

Secondaries dry powder buoyed by private wealth as market reaches H1 record – Jefferies

Available secondaries capital grew to a record high of $302bn in the first half, with aggregate NAV of retail vehicles managed by secondaries investors surpassing $80bn as of March, according to a report from Jefferies.