Adam Le
Adam Le is Senior Editor, EMEA, for PEI Group's private equity publications, overseeing the flow of global news and analysis for Private Equity International and Secondaries Investor. Based in London, Adam works closely with private equity-focused colleagues across PEI's offices in New York, London and Hong Kong. Prior to PEI, his roles included reporting on finance and technology for Bloomberg Japan.
The disposal comes after the US's largest public pension reduced ties with 24 managers through sales in FY2016.
.jpg?id=12885324327 "Setter MD launches FoF secondaries business")
A co-founder of secondaries advisory firm Setter has teamed up with a former managing director from Portfolio Advisors.
The Swiss investment firm's Euro Choice VI has already closed three secondaries deals.
The secondaries investors also committed to a blind-pool fund which the UK buyout firm will use for co-investments.
.jpg "Abu Dhabi launches $125bn SWF with state funds merger")
Mubadala Investment Company becomes the world's 14th largest sovereign wealth fund.
.jpg "Zurmont Madison team acquired by Swiss alternatives firm")
The team joins asset manager Patrimonium three months after the successful restructuring of its 2007-vintage fund.
.jpg?id=12885335662 "Boston pension seeks private markets manager")
The $4bn defined benefit pension fund wants to hire a firm to manage mezzanine, distressed debt, venture debt, and special situations exposure.
Andrew Rich’s departure is the second since October from the direct secondaries pioneer as it shifts its focus to private credit.
The Nordic direct secondaries firm had built up a 55% stake in Movimento, which counts GM, Fiat Chrysler and Volvo among its customers.
Predictions for the secondaries market include a drop in pricing and more GP-led transactions.