Marine Cole
In a falling NAV environment, buyers are often guessing where NAV will be the following quarter and it can paralyse some market participants.
To maintain the best returns possible, and be able to complete some of the larger transactions taking place today, secondaries firms have been increasingly using leverage.
The $29bn pension fund is an investor in several secondaries funds including those of Industry Ventures and Lexington Partners.
Kelly left Pomona in August and is starting as a partner at New York-based Farol this month.
The Central Park Group-managed fund focused on acquiring stakes in Carlyle vehicles has also increased its interest in Carlyle Partners V.
The endowment has sold about 100 private equity fund stakes totaling roughly $1.7bn in the past 30 months.
Jeremy Coller also expects transaction volume to be increasingly fuelled by more complex transactions such as GP-led restructurings, according to comments in a UK filing.
Laurence Allen, chief executive of NYPPEX, recommended that its clients sell interests in PE funds exposed to countries such as Brazil.
Increased competition, speedier transactions and market maturation are among the factors impacting fees advisors earn when brokering fund stake sales.
The Boston-based firm was founded by Solomon Owayda and Christine Patrinos through a relationship with Monument Group.