Adam Le
Adam Le is Senior Editor, EMEA, for PEI Group's private equity publications, overseeing the flow of global news and analysis for Private Equity International and Secondaries Investor. Based in London, Adam works closely with private equity-focused colleagues across PEI's offices in New York, London and Hong Kong. Prior to PEI, his roles included reporting on finance and technology for Bloomberg Japan.
The largest source came from a co-investment in Conversus Capital, from which HarbourVest Partners bought a $1.4bn portfolio in 2012.
The VC fund of funds manager has almost reached the target for its latest secondaries fund which will focus on direct and LP stakes.
A third of respondents to a Setter Capital survey said there was a higher number of these deals last year than in 2014.
The pension will only accept fund of funds strategies that focus solely on secondaries.
Secondaries Investor is in Hong Kong and Japan this week and next to find out if Asian secondaries are living up to their promise.
The Kuwait-based investment company came to market with a portfolio of mainly buyout stakes.
The energy investment specialist has hired Lazard to run a restructuring process on its 2006 fund and raise fresh capital for its 2008 vehicle.
The state's retirement system is an active investor in secondaries funds and previously committed to Coller Capital's latest vehicle.
Buyers were reluctant to price deals off September NAVs, which contributed to the decline in deals, according to the advisory firm's Q1 report.
Two-thirds of last year's secondaries deal volume was conducted through an intermediary, a 12% rise from the previous year, according to a Setter Capital survey.