Marine Cole

The firm is also opening an office in New York, which will be headed by a new hire leading its credit business.

 The Tennessee Consolidated Retirement System is betting on alternative asset strategies for long-term growth while revising its allocations to other asset classes, including equities and fixed income.

The settlement, which centres on improper fees and conflicts of interest disclosure to limited partners and supervisory failure, includes a $12.5m penalty. It comes less than a year after Blackstone settled with the SEC for similar issues.

Former Park Hill and Coller executive Andrew Caspersen allegedly created a fake credit facility to support a real stapled secondaries transaction, according to the US Department of Justice’s complaint.

Andrew Caspersen, who focused on advising secondaries transactions, including GP-led restructurings, allegedly tried to defraud two institutional investors of more than $95m.

The US SEC has filed a complaint last week alleging that the Oregon-based private credit firm and three top executive were hiding Aequitas’s rapidly deteriorating financial condition.

The portfolio of the Newport Global Opportunities Fund’s was valued at about $400m and had stakes in several American restaurant and resort chains.

This is the twelfth office for the Paris-based firm, which is building a local team to focus on fund of funds relationships, and direct, infrastructure and private debt investments.