Alex Lynn
Alex Lynn is Hong Kong Bureau Chief at PEI Group, leading coverage of Asia-Pacific private markets for Private Equity International and editing its daily Side Letter briefing for subscribers.
He joined the business in 2017 and previously covered the EMEA region from PEI's London office. Alex has a master's degree in Journalism from Kingston University. He can be reached at alex.l@pei.group.
The Neuberger Berman unit has not set a hard-cap for the vehicle but is unlikely to exceed $6bn, PEI understands.
Asset manager Oddo BHF has acquired the fund of funds unit in its first foray into private equity.
The vehicle – which was launched in 2016 – has already completed three deals and is over halfway invested, founder Crevan O’Grady tells PEI.
The top 10 largest buyout funds amassed $46.4bn between them in the period, representing 87% of the $53.6bn committed to the strategy.
The firm held a final close on Growth Fund II at €230m, well above its €200m hard-cap and more than triple the size of its €70m predecessor.
The Detroit-based firm collected $142m for the vehicle, well above its $100m target, according to a statement.
A government white paper cited transparency issues and management fees as reasons why the $1trn fund should not invest in unlisted equities.
Removing sampling biases reveals greater parity between US and European venture capital performance than is often expected, according to a report from eFront.
The firm has tapped Francesco Panfilo, former founding managing partner at Italian mid-market buyout house PM & Partners, as senior advisor.
The firm appointed 15 investment professionals to bring its team number to 60 last year and is planning a similar number of additions this year, partner Richard Howell tells PEI.