Fundraising

The firm, founded by the former head of secondaries at Schroder Adveq, focuses on small, complex secondaries deals in Europe.

The hire will work with Nick Miles, head of Europe and Asia Private Equity, based in Singapore.

The asset management arm of Abu Dhabi's second-largest SWF has sold a portfolio of assets to a group led by BlackRock and received a $400m primary commitment.

The funds will complement the GP stakes business, which co-president Michael Rees called 'one of the most underpenetrated spaces in all of alternatives'.

Stafford International Timberland Fund IX is the largest fund yet raised by Stafford and brings its timberland AUM to $2.9bn.

The supply of GP-led deals should continue to outstrip demand as more sponsors try to keep their best assets for longer, according to chief executive Mario Giannini.

H1 was the second-best half-yearly total for secondaries fundraising with Coller Capital, LGT Capital Partners and others holding sizeable closes.

Ares' close of the Landmark Partners acquisition this quarter, along with strong fundraising, helped boost the firm's AUM to nearly a quarter trillion dollars.

The firm has also closed on nearly $800m for its debut dedicated GP-led strategy.

Venture capital and infrastructure secondaries made the top 10, while nearly a quarter of all capital closed is payable to Coller's recent effort.