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 appointments come as the investment giant is understood to be seeking as much as $2bn for its debut fund focusing on the strategy.
The pandemic has thrown up some unexpected issues for secondaries market participants, including a sponsor who threatened litigation over a stapled deal.
The departure comes as the volume of real estate secondaries reached a record high of $8.5bn last year, driven by fund and portfolio recapitalisations.
Simon Bachleda, manging partner of Revelstoke Capital Partners, talks to Secondaries Investor about why the firm has tapped secondaries capital on more than one occasion.
The bank's capital advisory group benefitted from a significant rise in deals in the second half of last year, co-chairman and co-chief executive John Weinberg said on Wednesday.
The promotions come as the firm seeks $3bn for its fifth secondaries vehicle.
The appointment comes at a time when many advisors are focusing on GP-led transactions.
The law firm advised on more than $57bn-worth of secondaries transactions last year and represented GPs including Audax Group and Clearlake Capital Group.
The London-based appointments come as the Carlyle Group unit deploys its $10.2bn ASP VII secondaries programme.
The investment bank is planning to make senior hires in the US over the coming months.