The firm’s secondary team, which has committed 75% of its $2.9bn Fund VII, has jointly funded the spin-out of a German VC group whose new media portfolio includes some high profile companies like Groupon.
The private equity investor, which is currently raising its fourth secondaries fund, sees its Asian secondaries activity doubling in the future.
The Spanish fund of funds manager will not charge fees on its €65m secondaries fund until capital is actually put to work.
The secondaries market will become much more active in 2010 ‘as continued portfolio net outflows force investors to intensify their search for liquidity'.
Bids that came in for the private equity stakes were not ‘on par with the value of the assets’, the endowment’s CEO John Powers told PEO in an interview.
F&C and Altamar have both closed funds this week, as they seek to capitalise on emerging secondaries opportunities.
The Swiss alternatives manager has more than doubled the size of its previous global secondaries fund, closed in 2006.
The global fund of funds manager has attracted around $600m in commitments in the last 12 months on its way to a target of $3.75bn.
PCG Asset Management would run the programme, which would target original commitments of between $5m and $20m.
Pinal Nicum will end an eight-year career with London-based Coller to become Adams Street's second European partner focused on secondaries.