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Deputy chief executive Michael Collins said news of the UK’s decision to leave the European Union was ‘unwelcome’.

Neuberger Berman enjoys limited competition in its section of the secondaries market for two reasons, according to a memo from the $29bn pension.

It makes sense for LPs to use the secondaries market for liquidity rather than seek asset sales when it comes to Australian agri, according to the head of a Queensland-based investment firm.

The banking group's Five Arrows Secondary Opportunities unit acquired the interest using its third secondaries fund which was almost fully invested as of November.

This is the second commitment by the pension to funds managed by Portfolio Advisors, which is seeking $1bn for its latest secondaries vehicle.

The investment bank also raised over half a billion dollars for a dedicated real estate secondaries fund last year, according to documents seen by Secondaries Investor.

The New Jersey Division of Investment, which sold stakes on the secondaries market earlier this year, has lost Jason MacDonald, who will join his alma mater as an investment director in July.

The direct secondaries firm, which bought the India-focused portfolio of Draper Fisher Jurvetson earlier this year, will open its second overseas office in Mumbai by year-end.

The European investment firm wants to expand its investment team with a private equity, private debt and infrastructure secondaries professional.

The mezzanine powerhouse has completed at least three deals from its latest secondaries fund which focuses on restructurings.