Secondaries
India relaxes rules on secondary deals by foreign PE firms
Foreign private equity and venture capital firms now have license to pursue direct secondary transactions in India after the country’s central bank relaxed regulations on their activity. It potentially opens the door to a string of asset purchases from...
Profile: NewQuest's Darren Massara
Darren Massara is familiar with difficult investment environments the world over. He is relying on these experiences to help NewQuest find success in Asia’s direct secondaries market
Greenpark, IFC target emerging markets secondaries
Greenpark Capital's tie-up with International Finance Corp. (IFC) to create a $500 million emerging markets secondaries fund (EMSF) makes a lot of sense. The former has plenty of experience in secondary investments but a limited emerging markets presence;...
Secondaries: GPs for hire
Many first-time fund managers in Asia are expected to have trouble raising successor vehicles. Secondary investors sense the opportunity to tide over GPs by acquiring their existing portfolios
HarbourVest promotes three in Asia Pacific team
Tim Flower, who moved to Hong Kong in 2010 to head up HarbourVest Partners’ secondary investments in Asia, has been promoted to principal. Two other Asia-based executives, Kelvin Yap and Maggie Chan, have been named vice presidents.
Coller Capital buys Crédit Agricole Private Equity
Secondaries investor Coller Capital has acquired fund manager Crédit Agricole Private Equity (CAPE) from France’s largest retail banking group, Crédit Agricole.
Neuberger Berman raises $720m
Investment management firm Neuberger Berman Group has raised $720 million for its private equity fund-of-funds, NB Crossroads 2010.
Korea Post unit looks to invest in global secondary funds
Savings Bureau of Korea Post, one of South Korea’s largest state-controlled institutional investors, is looking to invest at least $30 million in a global secondary fund. It represents one of the savings bureau’s first forays into alternative investments...
SEC approves Volcker rule as market watchers express concerns
Concerns are being raised that the Volcker rule, which limits bank exposure to asset classes such as a private equity, will be postponed or weakened by lobbyists and that some forms of proprietary trading will be exempted completely. The rule was approved...
Partners Group launches global fund in Sydney
Partners Group has set up a new global private equity fund based in Sydney, offering smaller institutional and retail investors access to deals normally only available to large institutions.
Ex-EM Alternatives execs join Pomona’s Asia team
Pomona Capital has hired Ernest Lambers and John Stephens as managing directors in its London and Hong Kong offices, respectively, with a remit to focus on the firm’s investment programs in Asia and other emerging markets.
AXA tipped to sell private equity unit for around $670m
French insurer AXA has put its private equity unit up for sale in order to focus on its core insurance business.
AXA, LGT buy $901m in secondary assets from German bank
AXA Private Equity and LGT Capital Partners have acquired a EUR620 million ($901 million) private equity portfolio from Germany’s HSH Nordbank. The portfolio is said to include stakes in about 47 private equity funds, including European vehicles managed...
Lexington eyes bumper deal flow
Brent Nicklas founded Lexington Partners in 1994 and currently serves as managing partner, overseeing private equity secondary and co-investment funds. He discusses global opportunities for secondary investors
Secondaries: The direct approach
The product of a secondary investment itself, Bank of America Merrill Lynch spinout NewQuest Capital has now set out its stall as Asia’s first direct secondary fund
Secondaries in Asia: Small beginnings
Global secondary investors are opening offices and forging relations in Asia, waiting for the trickle of deals to evolve into a healthy flow
AXA Private Equity raises $3b for secondary fund
AXA Private Equity has raised $3 billion for its latest secondary fund. It is targeting a final close of $3.5 billion for AXA Secondary Fund V, having set the hard cap at $4 billion, the Wall Street Journal reported, citing a person familiar with the...
Lexington closes largest-ever secondaries fund at $7b
Lexington Partners has closed its latest secondary fund at $7 billion, making it the largest-ever secondaries offering, Dow Jones reported, citing people familiar with the situation. The fund includes separate accounts – including one held by China...
AIC launches secondaries fund from Japan
Alternative Investment Capital Limited (AIC) has teamed with the Development Bank of Japan (DBJ) to launch the $150 million AIC Asia Opportunity Fund, L.P. The fund will target secondary investment opportunities in select Asian markets.
Lexington Partners opens Asian office
Lexington Partners, the world’s largest secondaries manager, has recently set up a Hong Kong office. The office will be helmed by Kirk Beaton, who relocated in mid-January from the firm’s London operations.
Paul Capital hires two for India sourcing
Global secondaries investor Paul Capital has bolstered its India talent with the appointment of Anand Sunderji and Akshat Shukla as regional sourcing agents, both charged with evaluating secondary PE transactions across the market.
Paul Capital promotes Jason Sambanju to Co-Head of Asia
Secondaries investor Paul Capital has promoted Director of the firm’s Hong Kong bureau Jason Sambanju (pictured) to the role of Managing Director and Co-Head of Asia, jointly held with current MD Lucian Wu.
Religare announces investment in Landmark Partners for secondaries
Indian financial services group Religare Enterprises Ltd. has announced a strategic investment for 55% of Landmark Partners, a Simsbury, CT-headquartered private equity and real estate investment firm with some $8.5 billion of capital under management,...
Returns, the second time around
The Asian secondary buyouts market is finding its feet, and investors their appetite, but true potential for value-add is still case specific