North America

The firm defines RE deals as any transaction where private equity is exchanged in the capital stack and where the operator maintains control over the asset.

The New York City retirement systems confirmed that four of the five NYC pension funds are involved in the large LP-led secondaries transaction.

NYCRS, which oversees five pensions including NYCERS, has a secondaries programme in place with long-term targets ranging from 10-20% of its total PE portfolio.

The firm launched what could be its largest-ever secondaries fund in October.

The Norgay Partners co-founder had advised firms including PJT Partners, Nomura, Northleaf Capital Partners, UBS and Morgan Stanley on executive search.

The US pension giant considers secondaries investments an important contributor of distinct advantages not found in traditional commingled funds, according to Anton Orlich, managing investment director for private equity.

Advent is seeking to move business management software, payments and commerce-related technologies provider Xplor into a separate vehicle.

The Campbell Lutyens-advised sale comes as the Eastman Kodak Company mulls a potential termination of its pension plan.

Download our latest list of the continuation funds that were known or disclosed during the first nine months of this year.

Warburg’s move comes as several other large GPs have built out internal secondary capabilities, including TPG and Leonard Green & Partners.