Rod James
Rod James is a reporter with Secondaries Investor and also contributes to sister title PrivateEquityInternational.com. He is based in the London office. Prior to PEI, his roles included a stint as a freelancer covering fintech and transaction banking, CEEMEA capital markets reporter with EMEA Finance magazine, and editor of the Latin American political and economic risk team at IHS Global Insight.
Several reports have come out giving a comprehensive view of the secondaries market in 2020. Here are some things you may have missed.
The firm is investing its Secondary Fund IV, which closed in November on €1.6bn after 18 months in market.
Asia's first 'decacorn', Grab, was among assets moved into a continuation vehicle as part of the process run by Vertex Holdings.
Secondaries has been a key driver of fee growth among Hamilton Lane's commingled funds and separately managed accounts, vice-chairman Erik Hirsch said on an earnings call.
Around 38% of capital for secondaries was raised in the fourth quarter, with Goldman Sachs, AlpInvest and HarbourVest accounting for the bulk.
Evercore advised on some of the biggest GP-led transactions last year, including deals involving Summit Partners, Audax Private Equity and TH Lee Partners.
Lexington Partners’ tie-up with Moonfare could be the model that will allow secondaries firms to tap a lucrative new market.
The Nordics-focused manager started the Edda series of funds in 2018 to complement its longstanding direct secondaries offering.
The transaction comes as the bank combines its private fund investment teams under the banner of HSBC Alternatives, which has $26.4bn in private market funds and mandates.
Investors seeking liquidity on the PE investing platform will be able to sell their fund stakes to the New York secondaries giant.