Michael Baruch
As Brazilian pensions finish divesting their private assets, buyers hope a primary investing boom will have positive implications for the secondaries market.
LPs should be aware that buyers often mark up assets to par on day one, even if they are acquired at a discount.
The White Plains-based adviser has promoted four as its LP business comes up on a full year of operation.
The partnership will see secondaries market veterans and former Coller Capital investment professionals Sebastien Burdel and Luca Salvato join in London and New York, respectively.
The Minneapolis-based firm expects to finish deploying its most recent programme, Clean Growth Fund V, by the end of this quarter.
The secondary advisory promotions include former Harvard Crimson and Dallas Cowboys American football player Collin Zych.
As the lines between co-investments and secondaries continue to blur, Secondaries Investor presents a light-hearted verse, with apologies to the bard.
In the absence of market mammoths, firms raising for once-niche strategies such as concentrated-asset deals and preferred equity populated this year's list.
Few secondaries firms remain independent after a glut of M&A transactions this year.
The Carlyle Group unit has led a process in the latest example of a sponsor using continuation fund technology for the first time.