Manager Strategy

The private equity giant is looking at opportunities to acquire secondaries firms or set the unit up organically, according to co-president and co-COO Scott Nuttall.

The firm said its focus on 'targeted transactions' rather than buying large LP portfolios will work to its advantage in the current market.

The number of funds coming to market openly offering discounts for early-bird commitments or big ticket sizes is dropping, according to research seen by sister title Private Equity International.

Some board members have voiced concerns about the pace at which the $20bn pension is implementing plans to branch out into secondaries and co-investments.

The market dislocation means there may be more secondaries sellers than buyers, Aksia TorreyCove told the US pension.

Funds managed by AlpInvest doubled fee related earnings to $12m in Q2 2020.

The firm has added a late-stage direct secondaries strategy and a tech buyouts fund in the last five years.

On an earnings call on Wednesday, co-president and co-chief operating officer Scott Nuttall said the private equity giant has periodically considered adding a secondaries strategy.

The South Korean government agency wants to commit up to $200m to secondaries funds.

Access to incremental debt capital can support follow-on investments in existing portfolio companies to preserve or enhance fund NAV, writes David Philipp of Crestline Investors.