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Lexington lined up to back Vitruvian GP-led – exclusive

The secondaries firm is in pole position to back a GP-led process on Vitruvian Partners' 2007-vintage fund, which has around €850m in remaining NAV.

LGT makes two partner promotions

Pfäffikon-based Martha Heitmann and Hong Kong-based Brooke Zhou were promoted in May, a spokeswoman confirmed.

Danske PE spin-out SAGA raises debut FoF

The €600m SAGA VII can make opportunistic secondaries purchases, according to partner Jesper Knutsson.

Ardian sells portfolio to Strategic Partners in tertiary sale

The investment firm has offloaded a portfolio of stakes from its 2010-vintage secondaries fund, having sold at least $1.5bn to the Blackstone unit since 2017.
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Access Capital on how to decide when to sell FoF stakes

Co-founder Agnès Nahum and partner Alexandre Delos discuss how the firm uses secondaries as a portfolio management tool and how fund duration and market cycles influence its decision to sell stakes.

Ardian snags $550m Skandia portfolio – exclusive

The Swedish life insurer sold stakes in funds managed by Bridgepoint, EQT and IK, among others.
Nice, France

BEX ditches fees for NGOs in $365m fund close

Fund III is BEX’s first to offer ‘X shares’, which are exempt from management fees and carried interest, for non-governmental organisations and major non-profit foundations.

AlpInvest hires ex-17Capital Young Gun – exclusive

Vjerana Spajic joins the Carlyle unit to focus on preferred equity, six months after Secondaries Investor reported she had left the firm.
Ted Craig

MJ Hudson’s head of private funds departs – exclusive

Ted Craig, a partner and secondaries specialist, has left the London-headquartered law firm and asset management consultancy.

PAI mulls GP-led restructuring on crisis-era fund – exclusive

The buyout firm is exploring options for its 2008-vintage Fund V, which holds the world's third-largest ice cream producer Froneri, in a deal that could be worth close to €2bn.
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