Chelsea Stevenson
There could be changes to the LP-base for 2007 vintage European real estate funds managed by Carlyle and Tishman Speyer.
London-based Graphite Capital has sold its stake in Vision VI, which has 10 remaining portfolio companies including savoury pastry company Pork Farms.
Alpha Associates has bought stakes in two of Mezzanine Management’s Central Europe-focused funds.
Aqua Capital closed its agribusiness and food fund, AGF Latam, on $173m in October 2013.
Buyers need to understand how to mitigate risks such as alignment and asset allocation when acquiring LP fund interests.
Vienna-based Österreichische Volksbanken-AG has sold a stake in Polish private equity fund Nova Polonia Natexis II.
Is the bid-ask gap for European real estate funds too wide to get deals done?
The London-based firm paid £27m to purchase an LP's interest in its €5bn Eurofund V, which agreed to exit designer jewelry company John Hardy this week.
The price of an LP fund interest can end up being the same as the interest’s NAV because secondaries sellers and buyers have difficulty understanding accounting nuances when negotiating terms, according to Duff & Phelps' David Larsen.
Carlyle's Amsterdam-based fund of funds closed its fifth secondaries fund on roughly $4.2bn last year.