Western Europe

Golub is also investing into the CV that will house a US medical device manufacturer, PEI Secondaries Investor has learned.

The tail-end specialist – which PEI Secondaries Investor understands has raised $1.5bn for its latest GP-led programme – looks to back assets that have more to show after five-plus years in a fund, Steve Nicholls and Catherine Badour say.

The deal marks the second continuation vehicle process Meridiam has undertaken this year, with GIC backing its prior €2.2bn deal.

Sarah de Ste Croix and Gabriel Boghossian are set to join the legal giant as global co-heads of secondaries.

Investors are putting more resources towards shorter hold secondaries and co-investments, according to Mercer’s head of European infrastructure Julia Schiffer.

Klar’s CV process joins EMK’s in the market with both firms seeking to continue their hold for European assets operating in the same industry.

Investment committees are a taking a closer look before rolling into a CV amid rising deal volume, said panellists at IPEM Global in Paris.

In respect of their longstanding infrastructure portfolios, Abu Dhabi Investment Council is a keen trader of secondaries but the Swedish insurer isn’t, explain infra specialists Saoud Al Mulla and Hans Forssman.

While there have been instances of controversial GP-leds moving through the market, advisers continue to work in real time to improves practices, conference attendees at IPEM Global heard.

The alternatives giant led a consortium of investors on the approximate €1.7bn acquisition of ITP Aero in a carve out from Rolls-Royce in 2022.