Single Assets

The continuation fund for global life science ingredients distributor Barentz is understood to be around €850m in size.

ICG and Kirkbi A/S acquired Minimax in 2014 with ICG and co-investors acquiring Kirkbi’s stake in 2018.

The firm has appointed Michael Hu, a former managing director at Ardian, to lead its regional investment and business development activities from its new office in Singapore.

Panellists at PEI Group’s NEXUS 2024 summit discuss the blurring of the lines between secondaries and co-investments.

While demand among GPs for liquidity options to pay back LPs in older funds is strong, the limiting factor is the relatively small pool of capital available for such deals.

The buyout giant initially backed Multiversity in 2019 before acquiring 100% of the online university group in 2021.

The deal involves transferring an asset to a continuation fund managed by TRP Capital, a lower mid-market player with no prior engagement in GP-led secondaries.

GP-led deals represented about 44% of the approximately $109bn in total volume last year, with single-asset transactions representing the majority of such deals.

The Morgan Stanley-advised process on ski resort Alterra Mountain was backed by investors understood to include Singapore’s GIC.

The firm has previously tapped the secondaries market to run a €1.3bn single-asset process on investor administration group IQ-EQ.