Funds managed by AlpInvest doubled fee related earnings to $12m in Q2 2020.
TPG has become the latest multi-asset manager to enter the secondaries market and will probably not be the last this year.
Milan-based NB Renaissance Partners sold down part of its stake in a 'covid-proof' engineering business to a group of secondaries investors.
Mathieu Dréan of advisory firm Triago spoke to Secondaries Investor about the deals that are getting done in H1 and what is motivating buyers and sellers.
Major lenders in subscription credit facilities reined in new lending shortly after the crisis began in March, focusing on existing clients and facing various constraints. Smaller banks have been stepping in to the breach.
Groups like Coller-backed Liquid Stock, which offers employees financing to exercise stock options in exchange for future upside, have seen healthy business during the downturn.
The CPPIB secondaries head will lead TPG's secondaries investment strategy in Europe and the US.
Private equity volumes dropped by 58.5% and real estate by 53.4%, with infrastructure showing resilience, according to Setter Capital.
The portfolio acquired from a sovereign wealth fund is probably the largest-ever infrastructure sale, said Blackstone COO Jon Gray.
With $3.75bn in hand, Blackstone’s Strategic Partners is targeting stable assets in a range of sectors from a year to 10 years of age.