Adam Le
Houlihan Lokey’s Jeff Hammer and Paul Sanabria discuss the benefits of undertaking GP-led secondaries in private debt.
A few dozen positions held in the 2005- and 2007-vintage Sankaty Credit Opportunities Funds II and III were moved into a separate vehicle in a deal that closed in early June.
The investment firm will commit to Bridgepoint's latest credit fund as part of the deal.
The private debt firm has hired a Secondaries Investor Young Gun as a principal.
Meteor5 Capital, which counts Mounir Guen, Loren Boston and Spanish private equity veteran Javier Loizaga among its partners, is raising a fund to back emerging managers.
The US insurer has already received first-round bids for the bundle of stakes it wants to sell on the secondaries market.
A sole buyer acquired two separate credit funds as part of a clean-up in the bank's private investment arm.
Glenn Youngkin and Kewsong Lee will take over in January as David Rubenstein and Bill Conway become co-executive chairmen.
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The €650m deal involved moving assets from Recovery Fund 2008, which counted Teachers' Retirement System of Louisiana as an investor, into a new vehicle managed by the mezzanine firm.
The US pension acquired four stakes in Crescent Capital and Czech Asset Management funds, documents from its latest investment committee meeting show.