Western Europe

Including co-investment vehicles and SMAs, the firm’s LP secondaries strategy has received total commitments of $1.6bn.

Secondaries firms should develop vehicles capable of providing liquidity for a wider variety of players within the infrastructure space, says HarbourVest’s Diego Jimenez at PEI Group’s Infrastructure Investor Network Global Summit.

The secondaries market is not just expanding, it’s also changing the entire real estate market, explains Kilian Toms, managing director, real estate partners strategy, at CBRE Investment Management.

Golding Capital Partners also promoted head of secondaries, Richard Wilmes, to partner-level, a move that underscores the importance of secondaries investments to the firm.

The continuation fund for global life science ingredients distributor Barentz is understood to be around €850m in size.

LP sales continue to drive secondaries activity as limited partners look for ways to capture liquidity from their illiquid PE portfolios amid a slowdown in distributions.

ICG and Kirkbi A/S acquired Minimax in 2014 with ICG and co-investors acquiring Kirkbi’s stake in 2018.

Impact investor Summa Equity closed Summa Circular, believed to be the first Article 9 continuation fund, in December, breaking new ground for the secondaries market.

Riccardo Villa will advise firms accessing capital at both the portfolio and corporate level.

Continuation vehicles across different geography, size and industry of underlying assets have generated similar return multiples.