Christopher Witkowsky
The deal comes on the back of a single-asset process last year the firm carried out on Upstream Rehabilitation, which Coller Capital invested in.
The process is one of the few fund restructurings of size to proceed through the coronavirus downturn.
Leading secondary advisor UBS lost its chief Nigel Dawn, who later joined Evercore – setting up what could be an epic battle for mandates in the rest of 2013.
Talking to secondary market professionals about the dynamic in 2013, the term 'window of opportunity' gets thrown around a good bit. Many have been sitting around this year waiting for sellers to open that ‘window’ by coming to the market.
Jennifer Morais has left CPPIB's funds, secondaries and co-investments team, which is working to deploy $10bn in secondaries deals over five years.
The bankrupt city’s $2bn General Retirement System will interview Landmark and Lexington as it searches for a manager to run a $15m allocation to private equity secondaries.
The loss of Nigel Dawn to Evercore has not stopped UBS from moving forward with its secondaries business.
The bankrupt bank continues to have an active pool of limited partner interests in private equity funds, which contributed to $1.2bn in distributions last year.
With the ‘surprising’ hiring of former UBS secondaries executives Nigel Dawn and Nicolas Lanel, Evercore has almost overnight become a major player in the secondaries world.
Vintage Fund VI, which has been targeting $5bn, was expected to close in mid-June.