The $63bn public pension’s council held discussions last week about drafting a request for proposals to hire a secondaries programme manager.
The promotion follows a first close on €61m for the international private equity firm’s sixth fund, which is targeting €200m. As head of finance at the direct secondaries firm, Meyel built the firm's management and control systems.
The New York- and London-based firm spent about a year fundraising for a vehicle that ended up ‘substantially oversubscribed’.
The public US pension, which last reported assets valued at $16bn, decided to look for purchases on the secondaries market because ‘sellers were looking to sell high quality allocations at deep discounts’.
London-based 17Capital has inked its debut deal, providing €30m of mezzanine finance to Altamir Amboise, a French-listed vehicle linked to Apax Partners France.
The Singapore-based firm has hired Alex Sao-Wei Lee from secondaries specialist Coller Capital.
The direct secondaries firm, which has begun fundraising for Cipio Partners Fund VI in the US, recently purchased 10 venture investments from 3i Group.
The French fund of funds platform – a captive of insurance group Allianz – has garnered €315m for Fund V and hopes for a final close by the end of the year.
In a ‘sign of the times’ PEI’s second annual Private Equity Leader award has gone to Jeremy Coller, whose firm manages one of the largest pools of capital in the secondaries market.
The $50.6bn Massachusetts pension purchased the secondary stake in Denham Capital Management Commodity Partners V from Harvard.