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.
Most fund sponsors invested additional capital on top of carry rollover in such processes last year, according to the investment bank's debut Secondary Market Survey Report.
Glendower Secondary Opportunities Fund V had an initial hard-cap of $4.5bn – a figure that is understood to have been increased.
Reduced exit activity in the buyout market, coupled with the denominator effect, is creating opportunities for buyers, Shane Feeney, managing director and global head of secondaries, tells Secondaries Investor.
The promotions are part of eight firm-wide across its investment, business operations and investor relations teams.
The appointments are the latest in a string of secondaries lawyer moves to firms such as Fried Frank and Sidley Austin.
The firm has also made headway with fundraising for its latest secondaries programme, according to vice-chairman Erik Hirsch.
The Carlyle unit joins four other secondaries firms seeking to raise more than $10bn for their latest programmes.
Presenting the first instalment of Second Thoughts, a special series from Secondaries Investor that delves into the latest trends affecting the fastest-growing market in alternatives.
This is the first outpost after the preferred equity specialist's Toronto headquarters and comes as the firm seeks $5bn for its latest flagship.
Buyers are increasingly splitting out their fund strategies as institutional investors seek specific risk/reward categories for secondaries.