Alex Lynn
Alex Lynn is Hong Kong Bureau Chief at PEI Group, leading coverage of Asia-Pacific private markets for Private Equity International and editing its daily Side Letter briefing for subscribers.
He joined the business in 2017 and previously covered the EMEA region from PEI's London office. Alex has a master's degree in Journalism from Kingston University. He can be reached at alex.l@pei.group.
Some LPs are feeling betrayed in fund restructurings because GPs are having to choose who they serve, the firm's senior investment manager said.
Secondary Investments IV has a $20m hard-cap to stay within its niche, according to co-founder Sherif ElHalwagy.
The firm sold a portion of the stake to unnamed limited partners for $198m, chief financial officer Chris Govan said in a Q3 earnings call.
The US's largest public pension made $3.3bn of commitments to private equity in the 2016-17 fiscal year amid its programme to reduce its number of relationships with external GPs.
Some 15% of private capital executives saw a decrease in their year-on-year base salary in 2017, significantly higher than the 1% who reported a similar change last year.
The $36bn fund reported strong private equity returns after implementing an “aggressive” restructuring plan in December 2016.
Just over half of LPs have experienced greater transparency from fund managers since 2015, a new report claims.
The tail-end specialist invested in a European mid-market fund and a Polish vehicle through its £187m Secondary Opportunities V vehicle.
The Spanish firm is seeking around €600m for its fourth buyout fund after a GP-led process on its 2015 Fund II with HarbourVest Partners.
The sovereign wealth fund, with estimated assets of $828bn, is broadening its range of deals including secondaries and direct investments.