Marine Cole
The advisory firm also estimates that buyers plan to raise an additional $40bn of capital in the second half of 2015 and in 2016.
As the secondaries market matures, strategies have become more diverse. Ardian, Azini Capital and 17Capital are three firms that stand out.
The target for the venture capital firm’s second secondaries vehicle has yet to be determined.
General partners – with and without troubled funds – are increasingly seeing the secondaries market as a fundraising tool.
The terms of Crown Global Secondaries IV will be similar to those of its predecessor, except the firm will allow a greater share to be invested in stapled transactions.
The firm will use the office primarily for infrastructure and mid-cap investing.
The firm hired Matthew Coyne and promoted Kyson Hawkins, both of whom will focus on all private market transaction types TorreyCove is involved in, including secondaries.
The investment manager purchased a $378m portfolio of 32 properties from Sveafastigheter in a direct secondaries transaction.
Another slump in oil prices and a rise in primary deals is leading some to believe that energy secondaries activity could pick up early next year.
Partners Group anticipates secondaries pricing will remain elevated in private equity while it sees attractive opportunities in real estate, according to a new report.