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.
Presenting the second instalment of Second Thoughts, a special series from Secondaries Investor that delves into the latest trends affecting the fastest-growing market in alternatives.
As traditional exit routes dry up – and with the IPO window seemingly shattered – finding a new source of liquidity is paramount. Once again, GP-leds look best placed to accommodate.
Coller Capital's founder said in 2017 his firm would only become multi-shareholder when he has grey hair; its deal with Hunter Point this week shows the firm is moving to its next stage of ownership.
The Hunter Point transaction means that almost all of the large secondaries firms, according to the SI 50 ranking, have either sold a stake, gone public or are part of a wider asset management platform.
Sabina Sammartino joins as the advisory unit of Japanese financial services conglomerate Daiwa Securities continues to build up its secondaries capabilities.
Asia and Australasia secondaries accounted for around 4-5% of both LP-led and GP-led deal volume last year.
Investing in private debt fund stakes and assets would be a natural extension for the firm, chief investment officer of wealth and asset management Julian Salisbury tells Secondaries Investor.
The firm wants to move CycloMedia and Digital Barriers into a separate vehicle with as much as €300m in NAV.
The firm is seeking 25-50% more for its latest offering compared with its debut vehicle, Secondaries Investor has learned.
Michael Arougheti, Ares' chief executive and president, has previously said the secondaries industry is at an 'inflection point'.