Secondaries
Quadrant spins Australia car services business into continuation fund
Quadrant Private Equity has closed a AUD 255m (USD 165m) single asset continuation fund for MotorOne, an Australia-based automotive after-market services provider it has owned since 2016.
Secondaries specialist TR Capital expands into Singapore
Asia-focused secondaries investor TR Capital has opened an office in Singapore, expanding a regional footprint that already includes bases in Hong Kong, Shanghai, Shenzhen, and Mumbai.
Profile: Foundation Private Equity’s Jeremy Foo
Moving from direct investment to secondaries with Foundation Private Equity took Jeremy Foo outside his comfort zone, but past experiences of liquidity crunches have proved instructive
Fund focus: Ion Pacific goes institutional
Pitching a niche VC capital secondaries strategy with a meaningful focus on Asia isn’t easy, but Ion Pacific raised nearly 4x more than last time with large family offices well-represented in the LP base
Coller secures $1.4b for global credit secondaries fund
Coller Capital has raised approximately USD 1.4bn for its debut global private credit secondaries fund, said to be the largest pool of capital dedicated to the strategy.
NewQuest set for TPG windfall if Fund V hits $1.75b
The management team of Asia secondaries specialist NewQuest Capital Partners stands to receive a $10 million payout if the firm raises $1.75 billion for its fifth fund, as part of TPG’s acquisition agreement.
Japan's WM, AIC launch secondary fund targeting LP stakes
WM Partners and Alternative Investment Capital (AIC) are looking to raise a JPY10 billion ($88 million) secondary fund that will primarily target LP positions in Japan-focused private equity funds.
CDC spinout seeks $500m for India secondaries fund
Stratford House Advisors, an India-focused secondaries investor established by two former executives from CDC Group, is looking to raise $500 million for a dedicated country fund.
Secondaries: Straight outta Asia
The growing secondaries opportunity in Asia is attracting more global capital, but managers with strategies dedicated to the region are few. This is changing, albeit gradually
Indies reaches first close on SE Asia tech secondaries fund
Indies Capital Partners has reached a first close on a Southeast Asia tech secondaries fund, with commitments totaling more than 70% of the $80 million target.
Q&A: Foundation Private Equity’s Jason Sambanju
Having made his name in Asia secondaries at Paul Capital, Jason Sambanju struck out on his own in 2017 with Foundation Private Equity. He explains why there is room for a local GP dedicated to LP-style deals
Tikehau backs Asia secondaries specialist Foundation PE
Tikehau Capital has taken a majority interest in dedicated Asia secondaries investor Foundation Private Equity, supporting the firm’s $110 million first close on its debut fund.
Asia secondaries: Continuation conundrum
The rapid ascent of single-asset continuation vehicles in the US and Europe might be emulated in Asia, but investors are approaching the market with measured optimism
Lucian Wu leaves HQ Capital
Secondaries specialist Lucian Wu has left his role as a managing director with HQ Capital in Hong Kong.
Legend closes China healthcare continuation fund
Legend Capital has spun out the healthcare assets from two of its China venture capital funds into a continuation vehicle supported by Hamilton Lane and Coller Capital. The $270 million deal includes capital for follow-on investments.
TPG takes majority stake in NewQuest
TPG has agreed to take a majority interest in Asia secondaries specialist NewQuest Capital Partners, nearly three years after acquiring a minority stake in the manager.
Hamilton Lane secures Asian support for global secondaries fund
Hamilton Lane has closed its fifth global secondaries fund on $3.9 billion, with Asian LPs accounting for 17% of the corpus.
Fund focus: TR raises $350m for China-heavy secondaries strategy
Having closed its fourth fund at the hard cap of $350 million, Asia secondaries specialist TR Capital expects to go deep into China fund restructurings, taking out renminbi investors onshore and offshore
ESG & secondaries: Finer filters
Rising sustainability standards pose unique challenges for investors that prefer buying into existing portfolios. Interestingly, increasingly complex deal structures are making it easier
Asia secondaries: Waiting for the flood
Secondary investors expect deal flow to rebound strongly once there is more certainty on valuations. In Asia, the opportunity will be larger and more nuanced than the post-global financial crisis frenzy
Fund focus: Ardian goes large
With $19 billion in dry powder, Ardian is targeting big-ticket transactions in the secondaries space. Asia is becoming an increasingly significant part
Ardian raises $19b for global secondaries fund
Ardian has closed its eighth global secondaries fund with $19 billion in commitments, representing the largest-ever vehicle raised for the strategy. The total includes $5 billion for co-investment.
Roc Partners hits $120m third close on fourth Asia fund
Australia-based private equity firm Roc Partners has reached a third close of $120.1 million for its fourth Asia Pacific fund-of-funds.
Fund focus: Lexington targets growing Asia secondaries market
Having closed its ninth fund at $14 billion, Lexington Partners is hunting for assets in a secondary market that is becoming ever larger and diverse. Asia is on the agenda, whether it’s GP-led restructurings or LP portfolios
