Chelsea Stevenson
Unicredit subsidiary WealthCap is the latest LP to sell its position in PAI Europe V.
Sascha Wagner will leave the firm’s Singapore office at the end of the year.
Early liquidity is becoming a common part of the venture capital landscape, says Benjamin Black, co-founder of direct secondaries firm Akkadian Ventures.
The South Carolina Retirement System Investment Commission plans to increase its exposure to secondaries over a five-to-seven year period.
San Francisco-based Akkadian Ventures closed its third direct secondaries fund on $74m in October.
New York-based Auldbrass currently manages four portfolios of LP interests worth $10m or less.
The portfolio includes several mature companies such as CRM software nextevolution and mobile payment provider Mobile City.
Jürg Wenger will step down as COO in the new year, but will continue to support certain firm initiatives.
Details that emerged this week around Montana’s recent secondaries sales make clear why other US public pensions are increasingly following suit.
The Connecticut-based fund of funds manager has historically invested in secondaries through mixed fund of funds focused on private equity, venture capital and natural resources.