PIP completes secondaries sales
The listed fund of funds has this week unloaded a total of £206m of unfunded commitments.
3i sells VC stakes to Cipio for €18m
The London-listed private equity firm has offloaded a portfolio of 10 venture capital investments to the secondaries specialist. 3i has also exited its growth capital investment in shipping services company Instone International for between €30m and €50m.
HgCapital invests €300m in Spanish solar secondaries transaction
The UK private equity firm has made its debut Spanish and solar investments with the acquisition of stakes in three photovoltaic plants in a secondaries transaction.
Lehman Brothers to offload FoF shares in secondary transactions
Euronext-listed fund of funds Lehman Brothers Private Equity Partners is changing its name to NB Private Equity Partners and will help its bankrupt parent company unload 14.5 million shares in secondary transactions beginning in mid-2010.
HarbourVest backs Lehman VC spin-out
A management group from Lehman Brothers Venture Partners will spin-out to become Tenaya Capital, which will have $750m in capital and 45 portfolio companies. HarbourVest completed a synthetic secondary transaction as part of the spin-out.
Coller pays £50m for 24% SVG stake
Secondaries specialist Coller Capital was the largest investor in the listed fund of funds’ recent rights issue, having picked up 50 million shares. The investment was made from Coller's fifth fund, which is around 55% deployed; the firm is expected to raise up to $6bn for Fund VI later this year.
Goldman completes ABN AMRO secondaries deal
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.
Wellcome Trust eyes secondary market
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.
Harvard to sell $1.5bn in private equity stakes
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.
Secondary firms circle Lehman-held LP interests
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.