Secondaries

No matter how successful the build out of a secondaries team has been, senior talent staying put is not a given.

Kosters will oversee the expansion of Antares’ credit secondaries strategy with the credit shop completing ‘multiple transactions’ last year.

The SMA would include a commitment to StepStone’s flagship real estate secondaries fund, which has surpassed the size of its $1.4bn predecessor.

The process comes at a time of increased momentum for GP-led credit deals with a number $1bn-plus transactions closing last year.

Over 75% of manager respondents say it is likely or highly likely they’ll look to the secondaries market across 2025 and 2026 compared with 45% in PJT’s 2023 survey.

Volume from single asset deals grew by more than 80% year-on-year, accounting for more than half of all GP-led deal volume in 2024, according to Campbell Lutyens’ full-year secondaries report.

LP-led deals made up 54% of the record $162bn of volume seen in 2024, with pricing improving across all asset classes, according to Jefferies’ Global Secondary Market Review.

Wesley will become head of private funds advisory at Moelis, a role left vacant following the departure of Rodney Reid last year, Secondaries Investor has learned.

LP-led sales made up 52% of the record $152bn of secondaries volume seen last year, according to Lazard’s latest market report.

The new finance chief was brought on following a review and upgrade of the firm’s finance systems.