North America

The departure follows a string of people moves across the secondaries market in 2025.

Professionals from CPP Investments, LGT Capital Partners, Blue Owl Capital, and more have made this year’s list of future leaders in private equity.

Ares expects to hold a final close on its infrastructure secondaries fund this summer, chief executive Michael Arougheti said on the firm’s earnings call.

Compared with some of its peers, Apollo opted to grow its secondaries business S3 organically, formally launching the strategy in late 2022.

Yale’s sizeable portfolio sale could spur a number of endowments to follow suit – with programmatic seller Harvard in market alongside it.

The separately managed account will invest into two Lexington funds, as well as co-investment opportunities.

Part of Vista Equity’s contribution to the deal will come through its private wealth channel, a source said.

Paul Sanabria and Jeff Hammer will return to their advisory roots as part of the investment bank’s ‘aggressive’ push.

The transaction, which could total as much as $1bn in size, is understood to comprise a concentrated list of funds and managers.

After hearing pitches from more than 50 suitors over the years, Kline Hill found a match in TA, managing partner Mike Bego told Secondaries Investor.