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Four months of talks between GMT and its LPs to restructure GMT's Fund II are nearing a resolution, as GMT looks to get back on the fundraising trail to raise €400m for Fund IV.
The Canadian pension continues to be a dominant secondaries market player.
The global fund of funds’ figures show there are 200 funds over 10 years old with at least $100m of NAV. That's expected to be a key source of dealflow for secondaries investors.
New details have emerged on HarbourVest’s ‘rescue’ of Motion’s €1.25bn Fund II, one of the first major restructurings of a tail-end fund in Europe.
Talks stall after several months of negotiations, according to a source inside one of the camps.
Scott Myers has recruited talent including private placement veteran Loren Boston to launch New York-based Hycroft Advisors.
Market sources expect an agreement in coming weeks that would allow LPs in the firm’s 2002-vintage Fund III to gain liquidity.
The newly independent SwanCap has $450m left to spend of its freshly raised $1.2bn fund.
A cash injection from HarbourVest rescues Motion’s €1.25bn Fund II.
Snapping up secondaries is not as straight-forward as it was in 2011 and 2012.