Chelsea Stevenson
Secondaries valuations have reached a record high; will they keep climbing in 2015?
The Fourth Cinven Fund raised €6.58bn in 2006 and exited allergy testing company Phadia for $3.52bn in 2011.
Curtis Buser became interim chief financial officer in May and has served as the firm’s chief accounting officer for 10 years.
The average price for private equity fund interests reached a record high in Q3, according to Credit Suisse.
Real estate represents the largest share of real assets secondaries and the growth of the market is one of the key trends of 2014, according to a quarterly update from Credit Suisse.
The fund launch comes months after Strategic Partners hired former Goldman Sachs vice-president Mark Burton to oversee its real estate investments.
Verdane acquired in-home elderly care company Caretech from closed-doors firm Småföretags Invest in 2006.
About 15% of the $425m fund had been deployed as of August.
The $181bn pension targets a 10 percent to 20 percent allocation to private equity secondaries.
The ICG-NewGlobe development highlights continuing shifts in the secondaries market.