Funds

Industriens Pension mulls adding more infra secondaries exposure

The Danish retirement scheme favours indirect over direct investment in secondaries and has made commitments to all five infra secondaries vehicles managed by Pantheon, infrastructure funds head Mikkel Kjaersgaard tells Secondaries Investor.

In defence of valuations

Senior execs have been working to spell out why secondaries mark-up practices make sense following public scepticism from peers.

StepStone to adjust fee rates in flagship secondaries funds

The firm will lower fees during funds’ investment periods and then increase them after the period, according to head of strategy Michael McCabe.

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Morgan Stanley’s PCA chief leaves the bank

A replacement for global head of the PCA group, which will continue to operate as usual, has not been named, Secondaries Investor understands.

Tikehau latest manager to close credit secondaries fund as market fires on all cylinders

Tikehau’s second credit secondaries-focused fund closes on more than $1bn having launched in the second half of 2023.

CVC’s secondaries flagship surpasses target with over $8bn raised – updated

The fund, which remains in market, has exceeded its target by more than $1bn and already marks a significant step up from its $5.8bn predecessor.

Montana closes first secondaries programme following its acquisition by PGIM

The close of MCP Opportunity Secondary Program VI follows a rejig of Montana’s senior leadership last year.

Arougheti: Ares ‘well positioned’ in growing credit secondaries market

The firm’s inaugural credit secondaries closed-end fund reached $4bn with the programme totalling $7.1bn, marking it the firm’s largest inaugural fundraise, CEO Michael Arougheti says.

Blackstone saw record year for secondaries deployment

Strategic Partners has held an initial close of $5bn for Strategic Partners Fund X with ‘another major close’ expected in the coming weeks, Blackstone’s president and COO Jon Gray said on the firm’s earnings call. Its $22.2bn Fund IX had committed $19.7bn by year-end 2025.