Tail-End Funds

Activity is driven by secondaries and funds of funds aiming to lock in returns and liquidate old vehicles, according to managing partner Etienne Deshorme.

The tail-end secondaries specialist is investing its seventh fund, which closed last year on its $1bn hard-cap.

Sellers pushed on with secondaries sales despite the crisis and dealflow is likely to remain strong into December, according to Jared Barlow, a partner at the firm.

The listed arm of Intermediate Capital Group de-risked its portfolio by selling stakes in funds managed by IK, Graphite and Silverfleet, among others.

The firm targets underperforming funds and difficult situations, which it says have increased as a result of covid-19.

The appointment comes after secondaries head Nico Taverna's departure last year.

Hollyport Secondary Opportunities VII has raised double the amount collected by its 2017-vintage predecessor.

As Hollyport seeks $750m for its latest flagship fund, we look at the terms of the fund and the niche secondaries specialist's performance so far.

Co-chief executive David Layton says he is 'pleased' that most pre-crisis dealflow has worked its way through the system.

LPs not proactively managing their mature fund commitments are incurring potentially huge opportunity costs.