North America

Madison International names founder Dickerman’s future successors

Following a multi-year selection process, two senior executives have been elevated as eventual heads of the business, while three have departed the secondaries manager.

Pantheon’s infra secondaries surpasses target as fund sizes build

Both Pantheon’s and Ardian’s latest flagships rank among the largest infra secondaries funds ahead of formal final closes.

Flexstone agrees to acquire Glouston as it accelerates secondaries growth

Glouston Capital Partners’ focus on the US will complement the firm’s geographic footprint in the secondaries market, Flexstone CEO Eric Deram tells Secondaries Investor.

CalPERS’ new alts head takes sophisticated approach to secondaries

Anton Orlich, architect of the US pension giant’s PE turnaround, will now also be responsible for its private credit, real estate, infrastructure and other alternative programmes.

Argosy doubles fund size with $145m raise

The asset manager’s small-deal-focused secondaries unit is seeking to write cheques of between $100,000 and $10m.

More sectors unlock as buyers slash software exposure targets

Secondaries funds have been targeting around 15-20% of SaaS exposure in LP-leds when previously it was sometimes as high as 40%, attendees heard at PEI Group’s Women in Private Markets Summit North America.

Top performing CVs continue to show outperformance over buyout funds – Evercore

Evercore and HEC Paris’s fifth CV performance study includes 396 CVs formed between 2018 and 2024, a significant increase on the 140 funds analysed in the inaugural report.

Future Standard secures ~$3bn for latest flagship

The fund primarily focuses on LP-led deals in the North American mid-market.

Florida SBA to shift away from LP-leds amid lagging secondaries performance

The $219bn system has seen ‘underwhelming’ performance from its largely LP-led secondaries portfolio, according to senior investment officer John Bradley.

Hiring in a hot secondaries market

As the secondaries market keeps growing, firms increasingly face a shortage of experienced talent. As competition ramps up, we delve into where and how the buyside is recruiting.