The New York City retirement systems confirmed that four of the five NYC pension funds are involved in the large LP-led secondaries transaction.
The process involves moving stakes into a new managed fund, Secondaries Investor has learned.
NYCRS, which oversees five pensions including NYCERS, has a secondaries programme in place with long-term targets ranging from 10-20% of its total PE portfolio.
The private markets firm backed a GP-led process involving Spain’s Bluesea, a hospitality platform.
Stafford Infrastructure Secondaries Fund V has raised about one-third of its €1.3bn target.
The firm launched what could be its largest-ever secondaries fund in October.
The Norgay Partners co-founder had advised firms including PJT Partners, Nomura, Northleaf Capital Partners, UBS and Morgan Stanley on executive search.
The US pension giant considers secondaries investments an important contributor of distinct advantages not found in traditional commingled funds, according to Anton Orlich, managing investment director for private equity.
Affiliate title Private Equity International's LP Perspectives 2025 finds true status quo options are top of mind for investors when it comes to CVs.
The continuation fund market is clearly where the market opportunity is going, according to Aware Super's deputy chief investment officer and head of international Damien Webb.