Christopher Witkowsky

James McConnell is relocating to London to lead the firm’s European private equity secondaries activity, which has been increasing as banks and other financial institutions use the secondary market to sell fund interests.

In recognition of his significant role in some of AXA PE’s biggest transactions, head of the New York office Benoit Verbrugghe has been given a place on the firm’s executive board.

It’s not surprising LPs get irate about the terms of fund restructurings. But ultimately, they need to be grateful that the market is offering them some kind of way out.

The bank’s alternative investments group is set to beat its $600m target for its second investment vehicle to buy fund interests, and will likely wrap-up fundraising around the end of the year.

CPPIB has anchored a vehicle managed by the Grant Behrman-led firm to house five portfolio companies. The companies will pay an exit fee used mostly to cash out existing LPs.

A recent fund restructuring on the secondary market illustrates how secondaries firms can help create options for LPs in funds well beyond their contractual lives. By Christopher Witkowsky

The restructuring, financed in part by an investor group that includes Landmark and Vision Capital, is seen as a way of providing options to LPs in a fund that has lived beyond its intended life.

The $122bn pension system has completed its sale of private equity interests, selling ‘relationships’, according to Barry Miller, head of private equity in the city Comptroller's office.

Senior vice president Jared Barlow left Partners recently and is working on secondaries as an independent contractor.

The $10.8bn system recently committed to Coller Capital as a way to ‘diversify existing private equity portfolios, obtain exposure to previously restricted funds and participate directly in select investments’.