LP Sales

LP-led sales made up 52% of the record $152bn of secondaries volume seen last year, according to Lazard's latest market report.

News of the sale follows the record-breaking close of Ardian’s latest secondaries flagship on $30bn.

Executives from Coller Capital, HSBC, Lazard, PJT Park Hill and more opine on likely drivers of dealflow in the region this year.

SQ Capital, founded by Mustafa Siddiqui, will focus on mid-market secondaries opportunities.

Mid-Market Secondaries III, the successor to co-investment and secondaries-focused vehicle Select Opportunities Fund II, reached its target.

The secondaries market anticipates 2024 will be a record year for volume, with first-half figures coming in at between $68bn and $72bn.

The New York City retirement systems confirmed that four of the five NYC pension funds are involved in the large LP-led secondaries transaction.

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.

As private markets AUM continues to grow at a clip, so too does the number of legacy funds held onto by institutions. Hollyport's John Carter and Elm Capital's Etienne Deshormes join Madeleine Farman in the latest edition of Second Thoughts.

Pennsylvania Public School Employees’ Retirement System's sale included stakes in funds managed by New Mountain Capital, Apollo Global Management and Platinum Equity.