Last week, Newbury Partners sold a position to GP stakes fund RidgeLake Partners. We looked at the ownership of firms that comprise our SI 30 ranking to see who might be next.
Stephen Sloan, former head of private capital advisory at Greenhill, will lead the effort alongside another senior hire.
The fund is the 'primary driver' of growth in fee-earning assets under management among the firm's commingled funds, vice-chairman Erik Hirsch said on an earnings call Wednesday.
Strong buyer demand is allowing some GPs to drive better terms for themselves on manager-led deals, according to panellists at PEI's Women in Private Equity Forum.
The alternatives manager is raising the Special Opportunities fund alongside its flagship secondaries vehicle, which is targeting $3.75bn.
Greenhill's secondaries advisory unit, which has lost seven MDs in the space of a month, made its name executing some of the largest LP portfolio sales.
The firm manages FlowStone Opportunity Fund, which is targeted at high-net-worth individuals.
Three Greenhill MDs will be joining the newly formed secondaries advisory business at Jefferies, with a fourth moving to the buy-side.
Secondaries Investor reported in November that the Carlyle Group unit was targeting $8bn for its latest secondaries programme.
Alternatives has more than $6trn in assets under management, and only about $100bn of that trades hands in secondaries, according to the firm's president Jonathan Gray.