Western Europe

Presenting the second instalment of Second Thoughts, a special series from Secondaries Investor that delves into the latest trends affecting the fastest-growing market in alternatives.

Oakley acquired a majority stake in IU Group in 2017 via €800m Oakley Capital Private Equity III fund, alongside a number of underlying Fund III investors.

As traditional exit routes dry up – and with the IPO window seemingly shattered – finding a new source of liquidity is paramount. Once again, GP-leds look best placed to accommodate.

Coller Capital’s founder said in 2017 his firm would only become multi-shareholder when he has grey hair; its deal with Hunter Point this week shows the firm is moving to its next stage of ownership.

Sabina Sammartino joins as the advisory unit of Japanese financial services conglomerate Daiwa Securities continues to build up its secondaries capabilities.

The investment bank’s capital solutions team has advised on around $68bn of secondaries, direct and co-investment transactions.

Tender offers plus staples can be a powerful tool to provide liquidity to cash-strapped LPs; some buyers say they have different thoughts.

The transaction follows another lead position for Montana on a €146m single-asset vehicle last year.

The transactions sees four assets moved from Amsterdam-headquartered private equity firm Bencis’ €408m Bencis Buyout Fund IV into the new vehicle.

The firm wants to move CycloMedia and Digital Barriers into a separate vehicle with as much as €300m in NAV.