Madeleine Farman
Madeleine Farman is a senior reporter for PEI Group’s Private Equity International and Secondaries Investor titles, based in London. Prior to joining PEI, she had covered private equity, private capital and advisers associated with the industry for other newsrooms and publications since 2016. Originally from New Zealand, Madeleine began her career in radio in Auckland.
The portion of LPs looking to back secondaries funds is only increasing as investors seek ways to turn negatives into positives in the current crunch.
The firm deployed 45% less capital in 2022 than its record of $16.8bn in 2021.
The promotions bring the number of team members elevated this year to 15.
DACH-focused B2B software investor Maguar Capital moved human capital management software provider HRworks into a separate vehicle.
StepStone Secondary Opportunities Fund V launched in May last year.
The transaction, which is understood to have been oversubscribed, moves Calera Capital’s US healthcare laundry service company ImageFIRST into a separate vehicle.
GP-led deals involving healthcare assets can provide an intoxicating mix of strong downside protection and meaningful upside potential.
The process is understood to be in the early stages and could involve multiple funds, Secondaries Investor understands.
The firm held a fourth close on the fund in the first quarter, bringing in just under $300m in commitments, managing director Brian Gildea says on Hamilton Lane's full fiscal year earnings call.
The programme includes the close of Global Secondary Fund 7, as well as other commitments from Adams Street entities that will be deployed into secondaries deals.