Tail-End Funds

The investment firm acquired stakes in Cinven's 2006-vintage flagship fund which holds UK financial advisor Just Group and German truck component maker JOST.

The 2004-vintage Lion Capital has invested in names including Weetabix, Jimmy Choo and Russia's largest vodka producer.

Kuwait Investment Authority has been offloading European private equity stakes in line with changes taking place at its London office.

The secondaries veteran's move to the role of senior advisor comes after several other changes in the advisory business.

Blackstone's Strategic Partners acquired stakes in the firm's 2007-vintage European technology fund, and 2003- and 2007-vintage European buyout vehicles.

The firm, which focuses on smaller, more complex secondaries deals, has nearly fully invested its third fund and is halfway to raising a fourth.

The transition away from tail-ends and GP-led restructurings is already happening, said Pal Ristvedt at BVCA's annual conference.

The firm's mature secondaries fund has acquired stakes in vehicles managed by Vision Capital, DH Private Equity and Abingworth, among others.

This is the first dollar-demoninated fund for the tail-end specialist, which attracted US and multinational institutional LPs to its latest vehicle.

Carlyle, Apollo and Blackstone funds were among those that changed hands in the deal involving $644m of NAV.