North America

The hire comes as part of the law firm’s plans to expand its North American team.

Chief executive Ken Moelis has previously said the investment bank would be ‘aggressive’ in building out its secondaries advisory business.

The fund launched earlier this summer and is already close to catching the total of its predecessor.

Inflows gathered by Carlyle AlpInvest accounted for 38% of the alternatives giant’s overall capital raising during the second quarter.

The Mexican restaurant chain deal marks the first continuation vehicle for food sector-focused Butterfly Equity.

Gregory Hardiman, who previously co-led 17Capital’s US investment efforts, has been named managing director and head of GP-LP solutions at Crescent Capital.

Co-CEO Marc Lipschultz said ‘we plan to be the leader’ in GP-leds during the firm’s 31 July Q2 conference call.

The total volume figure for real estate secondaries can change depending on the definition of GP-led deals.

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

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