Tail-End Funds

Having offloaded a portfolio of 19 positions in March, the pension plans to strike again in the 2019 fiscal year.

The endowment sold a stake in Apax's 2005-vintage fund, which contains fashion house Karl Lagerfeld, among other assets.

The tail-end specialist acquired stakes in funds managed by BC Partners, Graphite Capital and Apax Partners, among others.

The deal included stakes in Bridgepoint, BC Partners and DH Private Equity Partners funds.

The buyout firm wants to move Swedish chemicals producer Perstorp into a continuation vehicle, Secondaries Investor has learned.

The deal is one of the largest LP portfolio transactions.

Built-in liquidity solutions or asset rollovers will soon take care of ageing funds.

Secondaries Investor Young Gun Bernhard Ellmer had been at the advisory firm since 2012 and a partner since 2016.

Tail-end specialist Hollyport Capital backed the deal involving the buyout firm's 1998-vintage fund, including a discount of as much as 70% on the GP clawback.

Around half the investors in the fund, which is nearly double the size of its predecessor, are from charitable organisations.