As Citi hands over the management for $4bn of its private equity funds to investment advisor StepStone Group, Citi Infrastructure Investors, the investment bank’s captive infra investment arm, will remain on the firm’s books.
Goldman and Lexington have reportedly been beneficiaries of the secondaries-focused mandate.
The private equity advisor will manage funds that are near the end of their investment cycle, part of a deal also involving Lexington Partners.
Secondaries specialist Coller Capital has acquired a majority stake in a portfolio of 40 Bank of Scotland Integrated Finance assets from owner Lloyds Banking Group.
Two bellwether mega-funds are trading at or near par on the secondaries market, a big change from 2009, when these stakes were valued nearly 70% beneath GP-assigned values.
The Swiss fund of funds manager has raised $1.2bn for its latest secondaries fund.
San Francisco-based secondaries specialist Liquid Realty Partners has hired former Morgan Stanley dealmaker Mark Degner as managing director of acquisitions, to replace former CIO Jeff Giller.
The bank’s Alternative Investment Partners team sees opportunities from investors who are trimming portfolios and creating ‘deeper relationships' with fewer GPs.
The global development organisation sees an opportunity to help grow private equity secondaries in emerging markets.
Fresh from a €517m fund close, Partners Group sees ‘highly attractive' opportunities for direct investments, such as its recent injection £20m in dental chain Oasis.