Christopher Witkowsky

Nearly 50 percent of investors are stuck with commitments to so-called ‘zombie funds’, according to Coller Capital's Winter Barometer.

Scott Myers, who helped form secondary specialist Cogent Partners in 2002 along with other former executives from the Crossroads Group, is taking a reduced role at the firm.

The $43bn United Nations Joint Staff Pension Fund carved out a 6% allocation to private equity last year and has made its first commitments to big funds this summer.

The $65bn pension system earlier this year completed a secondary sale run by Cogent Partners of fund stakes in TPG Capital, Apollo Global Management and Warburg Pincus.

Concern is increasing about struggling funds that will cling to life for as long as possible to keep collecting fees. LPs must get together to kill them off, writes Christopher Witkowsky.

Committed Advisors, founded by former AXA PE executives Daniel Benin and Barthelemy de Beaupuy, has already closed on eight transactions.

The Marleen Groen-led firm won a mandate from the IFC to raise up to $500m for a secondaries fund that will target private equity in emerging economies.

The placement agency has put together a team that will work with limited partners to manage their portfolios and run secondary sales.

The $10.5bn pension worked with UBS to sell a portion of its private equity portfolio. The pension board last week approved more than $100m in commitments, including to Cinven's fifth fund.

The secondaries firm, which began fundraising in early 2008, has closed on $5bn and is expected to hold a final close by 30 June.