A growing number of liquidity providers are looking for a piece of the private wealth market, all trying to demonstrate a distinct edge.
Coller Credit Opportunities I came to market in May, targeting $750m, and is managed by partners Michael Schad, Ed Goldstein and Martins Marnauza.
Despite the shift to newer vintages, early distributions and higher IRRs remain important to secondaries investors, said managing director Cari Lodge.
As Brazilian pensions finish divesting their private assets, buyers hope a primary investing boom will have positive implications for the secondaries market.
Secondaries firms get a ‘helicopter view’ and the market is unpredictable, Coller’s head of ESG tells affiliate publication New Private Markets.
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.
Evoco has raised €162m to acquire portfolios of companies in the European lower-mid-market, with a particular focus on German-speaking countries.
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.
GP-led secondaries, especially single-asset deals like Belron, have driven the market to what is expected to be record volume levels this year.