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.
HarbourVest's listed vehicle made commitments to the firm's recently launched real assets secondaries fund and flagship Dover Street fund in February.
The Blackstone unit's latest secondaries fund has a $6.5bn hard-cap and will focus on mature portfolios, Secondaries Investor has learned.
Sales of stakes in funds of funds also increased as LPs moved to direct fund investments or segregated accounts, according to a report by Elm Capital.
The fund of funds manager has lost an investor relations executive with almost two decades of experience from its London office.
There are enormous pools of money in Japan just waiting to be deployed into alternative assets, and the secondaries market is the logical place for institutional investors there to start.
The commitment was part of an almost $1bn total investment in secondaries, debt, buyout and real estate-focused vehicles.
The French fund of funds sold on part of USS's €150m commitment in a European buyout fund to at least four parties.
The final close on the Switzerland-headquartered firm's sixth dedicated secondaries fund comes 10 months after it held a first close.
Partners Group was one of the LPs who sold stakes, while SL Capital Partners was part of a group who either acquired new stakes or increased their exposure to the €2.2bn vehicle.
Most strategies saw a dip in fundraising last year compared with a year earlier, with growth funds also experiencing a similar level of decline.