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The finding of a study conducted by 17Capital and PERACS justifies that investors often require a greater discount when investing in a tail-end fund.

The retirement system for the Big Apple is looking to use the secondaries market as a portfolio management tool.

With the transactions, ILIM, an investor in Irish real estate, will expand its exposure to European property investments.

Ardian is hiring throughout the company, including in its fund of funds business. Its portfolio companies include US pet supply store giant PetSmart.

The fund of funds invested in Nordic Capital Fund VII, Permira Europe III and Permira IV.

Phoenix Life Assurance, which sold the stake to Landmark, ceases to be an LP in the fund.

Investors in the $265m Indochina Land Holdings II fund have opted to sell their positions at a significant discount to a Gaw Capital-sponsored special purpose vehicle after the fund was timed out.

Consumer groups’ concerns regarding the fund’s investment in a payday lender prompted the New Jersey State Investment Council to explore various options for dealing with the exposure.

Lea Lazaric Calvert will start in July in Evercore’s London office and will focus on advising leading financing institutional investors and fund sponsors on secondary transactions.

Paul Capital has sold several fund stakes in recent months as the firm is in the process of becoming a ‘closed-doors’ firm. This sale was of a stake in Vision Capital IV, which retains Elegant Hotels in Barbados.