Secondaries

A quick exit out of a continuation fund can also raise questions about whether a GP knew about a potential exit even while pursuing the continuation fund, or if the offer came out of the blue.

The firm plans to launch its Core Private Equity product this year and will invest via secondaries, according to CIO and CEO Beno​ît Durteste.

The transaction is in the early stages and could reach $2bn in size, sources familiar with the matter said.

The USS sale marks the latest sizeable LP-led portfolio that Partners Group has backed in recent months.

Speaking at the HKVCA's Greater China PE Summit on Monday, Lexington director Niklas Risberg said buyers require discounts and strong GP alignment to get comfortable with the region's higher level of risk.

Inventory on the GP-led side of the business is high, though the completion rate for such deals hovers around 50 percent, sources have told Buyouts.

Tassilo Arnhold and Nassim Cherchali became co-managing partners at the financial services-focused firm last year in a management restructure.

At PEI’s annual Women in Private Markets Summit in New York, LPs discussed the power dynamic with GPs and what they expect from managers they work with.

More LPs are considering secondary sales as pricing has strengthened since last year, with high-quality buyout funds capturing pricing at the 90% or higher net asset value range.

The Triago founder speaks with Private Equity International on the back of the sale of his firm to Houlihan Lokey.