Secondaries

Travails at the emerging markets private equity firm may present a buying opportunity, but it may be too big a stretch for most secondaries buyers.

Negotiations and arrangements for the remaining portfolio – including potential secondaries sales – can prove fiendishly complicated, writes Julia Corelli of law firm Pepper Hamilton.

This is the Californian pension fund’s first real estate secondaries commitment and first investment with the Swiss firm.

The firm has opened offices in Chicago and Los Angeles as it continues expanding its secondaries advisory and fundraising business.

In February, Altamar Capital Partners hit a €541m final close on its latest secondaries fund. Managing partner Miguel Zurita speaks to Secondaries Investor about the fundraising and what to expect next.

The $50bn pension fund has made exploring the secondaries market, as a buyer and seller, a key strategic priority.

What does Verdane’s debut buyout fund say about the direct secondaries market?

High pricing, more robust information and GPs being more actively involved in deals will lead to an increase of around 25%, according to research by Lazard obtained exclusively by Secondaries Investor.

The strategy, which is run by Ardian and Lexington Partners, delivered a 16% return since inception for the $210bn US pension.

The Norwegian secondaries firm has launched a strategy targeting direct control positions in larger Nordic companies, according to managing partner Bjarne Lie.