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The deal, orchestrated by Cogent, will let Perseus finally wind down operations.
The transaction comes months after Lexington Partners and Newbury Partners led the restructuring of GMT's $365m Fund II.
Proskauer partner Sean Hill said this week that fund recaps will become a more common strategic management tool.
The San Diego County Employees’ Retirement Association plans to reduce the number of private equity funds in its portfolio from 53 to between 25 and 35.
Cincinnati-based Fort Washington Capital Partners has closed its third private equity opportunities fund on $150 million.
The trio of advisors brokered circa $25bn in transactions last year, accounting for nearly half of all estimated secondaries market activity.
Long-standing relationships and LP-friendly terms were key elements in HarbourVest’s €215m stapled transaction with Doughty Hanson.
The firm paid €150m for limited partner interests in Funds IV and V, and committed roughly €65m to Doughty Hanson’s latest fund in market.
An increasing number of GPs are giving their existing LPs liquidity options in older funds, as part of their sales pitch for a new fund, according to Tullett Prebon's Suchita Nayar.
Madrid-based fund of funds manager Altamar has invested in nine secondaries transactions using its €150m Altamar Secondary Opportunities VII.