Brian Cantwell
The French group is buying a $1.3bn portfolio of 350 fund interests from GE Capital.
The fund, which held a €100m first-close last September, exceeded its €200m target.
Paul Capital will become a ‘closed-doors’ firm and manage out its existing funds until they are fully realised.
Longer holding periods have created ‘a pent-up demand’ for liquidity, Cipio says.
The newly independent SwanCap has $450m left to spend of its freshly raised $1.2bn fund.
Cogent suggests the private equity secondaries market saw $27.5bn of deal volume last year – and is set to grow by another 10% in 2014.
Lexington has won the auction for 24 private equity fund interests being sold to raise cash for the Irish government’s fiscal stimulus package.
Secondaries specialist Vision Capital has promoted Samer Cortas as it continues to invest Fund VII.
A strong rapport with the family owners of $300m Turkish dairy Yörsan helped the emerging markets investor’s bid.
The firm is targeting €400m for the European fund of funds, 40% of which is earmarked for secondaries.