Credit Suisse has filed a lawsuit against Netherlands-based family office Plaza Group, claiming it illegally transferred hundreds of millions in LP interests 'in a brazen conspiracy'. Bankrupt Plaza has blamed Credit Suisse for encouraging it to back 'poorly performing funds'.
The private equity firm has created a site for potential sellers and buyers of its fund interests to exchange info, a move that puts Sun Capital into one of the IRS’ ‘safe harbours’ from certain US tax regulations.
The San Francisco-based secondary specialist estimates some $5bn in venture secondary assets are up for grabs.
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.
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.
The secondaries advisor and placement agent has been approaching large investors about a vehicle that allows clients to 'share' capital calls with cash-strapped LPs.
The London-listed private equity giant is trying to sell some of its European venture capital portfolio in an attempt to reduce its debt load.
The UK-based secondaries firm has hired Eric Pathé as an investment director just months after it appointed Matthew Arkinstall and Robert Savage.
Blackstone’s CEO and co-founder Stephen Schwarzman also said in an earnings call earlier last week that 'to our knowledge' no Blackstone private equity fund interest has been sold on the secondaries market.
Other than this secondaries play, the $2.3bn pension may commit no further capital to private equity GPs this year as it struggles with a 'cash flow crunch'.