Secondaries

Aizawa AM’s third flagship, which held its final close this year, is already 85% deployed, chief executive Shinichiro Shiraki tells Secondaries Investor.

The Canadian pension giant also acquired interests in two co-investments as part of the transaction.

Despite a couple of pulled-transaction anomalies, secondaries sales are still seen as a powerful tool for rebalancing portfolios.

Mid-Market Secondaries III, which is targeting €200m, is the secondaries-focused successor to Select Opportunities Fund II, CEO Eric Deram tells Secondaries Investor.

CVC Secondary Partners, formerly Glendower, also saw realisations increase from €300m in H1 2023 to €600m in the first six months of this year.

The largest proportion – $400m – went towards private equity secondaries, according to the firm’s Q2 earnings presentation.

The decision to increase small/medium buyouts’ portfolio share falls in line with other large public LPs.

Evercore’s latest Secondaries Market Review paints a reassuring picture for the multiple new entrants to the venture secondaries market.

While this year has not seen a large-scale close, several funds with hefty targets remain in market.

Thiha Tun has predominantly advised on complex LP-led deals in recent months, several of which involved buyers using continuation funds.