Fund Of Funds

The path to third-party capital via secondaries

French banking giant Natixis and its affiliate Flexstone see the secondaries market as a potential way to grow third-party capital.

Flexstone Partners mulls running secondaries process in future on pan-Asia fund of funds

Flexstone Partners Asia Selection III is now fully subscribed for by the firm’s majority shareholder, Natixis Investment Managers, and will invest its capital over the coming years, chief executive Eric Deram tells Secondaries Investor.

Ardian ploughs ahead on $1bn LP-led portfolio sale amid uncertainty

The sale follows the close of Ardian’s latest secondaries flagship programme on a record-breaking $30bn.

Sagard acquires stake in BEX Capital amid secondaries push

The acquisition provides Sagard a ‘significant expansion’ into secondaries as it seeks to scale its evergreen product offering, chief executive Paul Desmarais III told Secondaries Investor.

Mid-market specialist Quilvest launches dedicated secondaries strategy

Quilvest Secondaries Fund will primarily target GP-led transactions, though it will include a pocket for shorter duration opportunities, Secondaries Investor understands.

Finland’s eQ closes on fifth secondaries flagship

eQ PE SF V, which surpassed its target, is the smallest in the manager’s secondaries series.

BEX raises $765m in one-and-done close in line with predecessor

The niche secondaries firm opted to stick to a tight timeline given difficult fundraising conditions in order to focus on deployment, according to partner Stephane Chevrier.

France’s Access Capital eyes sophomore standalone secondaries vehicle

The Paris-headquartered firm raised €200m for its debut secondaries fund last year.

HarbourVest runs $1bn-plus clean-up secondaries sale on older pools

Fund of funds sales represented the majority of LP transactions by asset managers last year, according to a recent full-year 2023 volume report.

Lexington buys ~$1bn venture portfolio at big discount

The deal is an example of the type of ‘clean up’ deals routinely run by fund of funds and secondary shops.