Western Europe

Secondaries investors – such as Kline Hill Partners and North Sky Capital – can make primary fund commitments for a number of reasons.

The European buyout firm moved Sunrise Medical into a landmark €2.5bn multi-asset continuation vehicle six years ago.

Crown Secondaries Special Opportunities III has closed on $3bn ahead of its $2.5bn target.

Predecessor vehicle Fund IV is over 75% invested and has a TVPI of 1.5x, according to documents prepared for a US state investor.

Most secondaries funds in a US pension’s list of 21 vehicles target a net IRR of at least 15% and a return multiple of at least 1.5x.

Details of 21 secondaries funds, including those by AlpInvest Partners, BlackRock and Coller Capital, have been disclosed in documents prepared for a US pension.

In the eighth episode of the Decade of Secondaries Investing podcast miniseries, Evercore’s Francesca Paveri and Nicola Wealth’s Tori Buffery discuss how the industry can retain, promote and elevate women.

The strip sale is the latest example of an asset manager using the secondaries market to build third-party AUM.

Public Investment Fund is an LP in Ardian’s predecessor vehicle, which closed on $14bn in 2020 ahead of its $12bn target.

For the Decade of Secondaries Investing podcast miniseries, industry veterans Jeremy Coller and Yann Robard sit down with senior editor Adam Le to discuss the proliferation of non-traditional strategies and how this will fuel the industry’s growth.