Chelsea Stevenson
The amount of capital funds of funds allocate to secondaries has nearly doubled in the past decade.
Roughly 54 percent of LPs believe current secondaries valuations are too high, according to a report from SEI.
Leverage was predominantly used to buy portfolios of stakes in mature buyout funds, according to Evercore.
The direct secondaries firm has opened a second office on Kendall Square in Cambridge, Massachusetts.
Sam Green, private equity investment officer at the Oregon State Treasury, talks dry powder, pricing and ‘tactical shifts’ in secondaries strategies.
Wyley Scherr is leaving the firm weeks after he was promoted from vice-president to principal.
PineBridge Secondary Partners III had been targeting $500m.
Real estate secondaries volume reached roughly $7bn last year, according to a report from Jones Lang LaSalle Corporate Finance.
Direct secondaries, GP-led transactions and other restructurings accounted for 19 percent of total volume.
The Austin-based venture capital investment bank focuses about 40 percent of its investments on secondaries.