Gregg Gethard

JPMorgan re-joins the secondaries fray as the firm’s last secondaries fund closed in 2016.

Abbott Secondaries Opportunities Fund III is slated for a first close next month, documents from a US public pension show.

CRPTF's investment advisory committee approved $350m in commitments, split equally between HarbourVest’s latest flagship secondaries fund and a connected co-investment vehicle.

Details of the firm's Dover Street XI fund and HarbourVest’s Secondary Overflow Fund V were included in board documents for a US public pension plan this month.

The $72.4bn pension system's commitment pertains to a continuation vehicle for Esdec Solar Group, board documents show.

The $10bn system set a 5% target for its new private equity portfolio, with 75% of that intended for secondaries.

LPs are expected to increase sales of their portfolios over the coming year, which could bode well for secondaries funds.

The $33bn system adds flexibility in making a secondaries purchase, perhaps indicating the system sees an opportunity in a dislocated market.

Co-investment and secondaries funds may be coming into vogue as retirement systems try to reduce fees and take advantage of a volatile market.

The misuse of common practices in the private equity industry could allow misalignment between LPs and GPs.