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.
The deal involves education provider EduCo Global being moved from the firm's 2007-vintage fund into a continuation vehicle.
The capital raised for Crown Secondaries Special Opportunities II comes as the firm prepares to return with its fifth flagship vehicle.
HarbourVest Partners backed the deal, which gives liquidity to investors in a portfolio of regional assets in return for preferential early cashflows.
The GP-led specialist, led by Sebastien Burdel and Luca Salvato, registered the fund with the Securities and Exchange Commission in September.
Secondaries funds raised over the last five years used 19% of committed capital for repeat purchases, according to the advisor and placement agent.
Even secondaries firms need to understand how their holdings might look in 10 years' time, said ESG & sustainability head Adam Black.
The Madrid-headquartered manager is targeting 38% more for its latest secondaries fund than for its 2016-vintage predecessor.
The niche secondaries specialist, which spun out of Coller Capital in 2004, has already done 10 deals with its recently closed Fund IV.
Balboa Ventures is planning to raise up to €150m to invest in early stage VC on a primary and secondary basis.
Wireless infrastructure operator Phoenix Tower International is being moved into a continuation vehicle, Secondaries Investor understands.