Secondaries

The university endowment wants to boost liquidity by selling portions of its private equity fund interests, CEO John Powers told PEO.

The Dutch infrastructure manger held a second close in August on Dutch Infrastructure II after collecting €220m and is looking to hold the third close by the end of October. New investors include Dutch life insurer Achmea and Swiss alternative asset manager Partners Group.

Against a ‘fragile’ economic backdrop, the listed firm continues to sell assets and invest only in existing portfolio companies.

Private equity infrastructure funds have long used different structures than their traditional private equity peers.The asset class provides some intriguing examples of the benefits and drawbacks of some innovative models, among them the open-end fund structure.

The secondaries firms have established a £170m fund to acquire assets from 3i that will be managed by DFJ Esprit's nascent secondaries arm, Encore Ventures.

Jon Moulton’s resignation letter to LPs boldly advises winding down the firm’s non-traditional fund and breaking up the portfolio – a suggestion not lost on rivals and secondary investors.

The mega-firm has added on a 600,000-hectare cattle ranch in North Queensland to its Consolidated Pastoral platform in an all-equity deal worth A$48m.

The secondaries specialist is working with several institutions on preferred annex fund-type structures that help LPs to meet capital calls and make fresh commitments.

Fundraising for Asia-focused funds may have stalled, but it has less to do with Asia than it has to with a slowdown in the pace of investments globally, writes Siddharth Poddar.

The Southern European buy-and-build specialist is giving LPs greater control over investments made by the fund, illustrating the concessions necessary to raise an annex fund in today's market.