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.
Yuan-denominated funds have raised magnitudes more than dollar-denominated funds, though a lack of buyers has hindered the growth of a secondaries market.
The process, which was also backed by two co-investors, centres on a 2010-vintage fund with 10 assets across software, technology and healthcare sectors.
Secondaries funds have raised record amounts so far this year and a big Q4 is likely – take a closer look at the figures in our latest interactive report.
The GP-led process centred on Hightower Advisors is one of several large, concentrated processes in market as buyers make up for lost time.
Managing director Ben Wilson and director Alec Brown joined the $10bn asset manager from Pantheon in June last year after the departure of its secondaries co-heads.
The asset management giant's chief executive has said the strategy is a 'meaningful extension' for the firm.
China Ping An Insurance Overseas is the asset management and overseas investment arm of the world's seventh-largest listed company.