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Only 12 percent of investors plan to sell assets via a secondaries exchange or platform, according to a survey conducted by SEI.

Secondaries buyers are increasingly using deferred payments and leverage to compete for assets. But smart structuring can also lock in returns in case there’s a new downturn in the euro zone.

The multi-manager arm of the New York-based investment bank has closed its latest real estate secondaries fund on just north of $500m.

The direct secondaries firm has opened a second office on Kendall Square in Cambridge, Massachusetts.

The Austin-based venture capital investment bank focuses about 40 percent of its investments on secondaries.

The listed fund of funds from SL Capital Partners increased its position in Advent Global Private Equity VI and The Fourth Cinven Fund.

Apax Europe VII recently exited Swiss mobile operator Orange Communications for $3bn.

Investments in the portfolio include hotel property chains Mercure and MGalleries and a Winchester, England student accommodation.

The Graphite Enterprise Trust has purchased a stake in the fund from New York-based Columbia University.

The direct secondaries firm has sold personal care products maker Pantex and hydraulic hose company Pirtek.