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.
Returns for secondaries fell across both quarterly and yearly comparisons and were lower than the benchmark index for all strategies, according to data from the Institutional Limited Partners Association.
The fund of funds manager's fifth dedicated secondaries fund will target opportunities in the smaller end of the market.
The state's Board of Investments sold stakes in two private equity funds at a premium to NAV and did not use an advisor, meeting minutes show.
The deal was part of the US's largest public pension's $2.7bn portfolio sale which is yet to completely close, Secondaries Investor has learned.
The target is the highest-ever sought for a vehicle dedicated to secondaries in the asset class.
The Californian pension wants to hire funds of funds managers to help it invest $150m each year until 2018 and is interested in secondaries.
Weak IPO and M&A activity in Q3 will lead to average high bids falling by as much as 9 percentage points, according to a report obtained exclusively by Secondaries Investor.
The firm smashed the $3.6bn target for the fund which was used to launch the hostile takeover bid on SVG Capital.
The investment firm has hit the hard-cap on its first dedicated secondaries fund which will focus on distressed and special situations, Secondaries Investor has learned.
Campbell Lutyens and 17Capital are the latest firms to boost or establish their presence in New York, so how important is it that secondaries players have an address there?