Secondaries

Other recent moves at PJT include the exit of a principal to Bank of America, and the hire of a senior investment professional from NYCRS as a director.

The Geneva-headquartered manager’s sixth secondaries vehicle closed on €1.7bn and will target the mid-market.

The firm has been eyeing the launch of an infrastructure evergreen since last year, Secondaries Investor previously reported.

The sale included a core portfolio as well as another bundle of fund interests offered to buyers, Secondaries Investor understands.

The firm’s spin-out of Carlyle Group co-founder David Rubenstein’s single-family office Declaration Capital allows it to take on third-party capital and scale, co-founder Alexa Rachlin told Secondaries Investor.

Another CV failure has recently grabbed headlines. The secondaries market is limited on publicly celebrating its wins.

The fund will primarily focus on single-asset CV transactions, with additional flexibility to pursue multi-asset CVs and LP-led opportunities, Secondaries Investor has learned.

The hire comes after the global investment bank appointed a new Europe-based professional to lead its EMEA business earlier this year.

Brookfield’s Real Estate Secondaries fund is almost fully deployed and the manager is in the market to raise a second one.

A new survey shows some investors – especially larger ones – are more willing to use evergreen capital to cut bigger cheques for CVs and participate in syndication.