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.
LP-led mosaic transactions appear to be a common feature in the market today; expect them to remain for the foreseeable future.
Presenting the second instalment of Second Thoughts, a special series from Secondaries Investor that delves into the latest trends affecting the fastest-growing market in alternatives.
Oakley acquired a majority stake in IU Group in 2017 via €800m Oakley Capital Private Equity III fund, alongside a number of underlying Fund III investors.
The sale follows a recommendation from SCERS staff and consultant Cliffwater to sell down commitments made to 2006-08 vintage funds to deal with overallocation.
There were multiple $1bn-plus fund finance transactions in the market in the first quarter with at least 30 new entrants to the market, according to a report from PJT Park Hill.
Coller acted as sole lead on the transaction, which represents the third deal the firm has carried out with China's Legend Capital.
Supply from managers looking to the secondaries market to hold onto assets for longer periods continues to grow.
Healthcare specialist BPOC moved five assets into a separate fund in an Asante-advised process.
The Hunter Point transaction means that almost all of the large secondaries firms, according to the SI 50 ranking, have either sold a stake, gone public or are part of a wider asset management platform.
While it’s still early doors, managers are beginning to shout from the rooftops when it comes to the returns they’ve produced from exiting assets in continuation funds.