Staff Writer
The $850m Chicago Firemen’s Annuity and Benefit Fund will make a third secondaries investment by the end of the month.
The New York-based secondaries firm has hired Sabina Sammartino to head up due diligence in London and promoted two in Paris.
Gary Stevens has filed a lawsuit against the Connecticut secondaries firm claiming Landmark failed to honour a promise to give him an ‘ownership interest’ in the firm.
AAC Capital Partners, the former ABN AMRO buyout team, has secured €950m for further acquisitions from investors including Goldman Sachs, the CPPIB, AlpInvest and Adams Street.
The £15bn UK charity is particularly interested in direct secondary deals as it manages and rebalances its alternatives portfolio, Peter Pereira Gray, Wellcome deputy chief investment officer, said at the PERE Forum in New York yesterday.
The Simsbury, Connecticut-based firm is targeting $750m for its latest real estate fund – the largest dedicated secondaries real estate vehicle ever. It comes amid a massive rise in LP demand for liquidity.
The $37bn university endowment will make substantial cutbacks to its private equity portfolio, which one secondary investor calls a 'sophisticated' move to sell before other LPs do the same.
The US secondaries, fund of funds and co-investment firm has brought on Jordan Robinson for product development and made additional senior hires for secondary investment and the Asian fund of funds team.
Goldman Sachs, Coller Capital and Lexington Partners are reportedly among the groups considering bids for Lehman Brothers’ investments in US and European private equity funds.
As private equity firms await a decline in valuations to deploy dry powder, GPs and LPs alike are looking at whether there is ample liquidity to meet capital calls.