Secondaries
Goldman and GIC lead restructuring of Vector funds
Both funds are managed by Vector Capital and closed in 1999 and 2005
Neuberger Berman acquires FII's portfolio
Portfolio of 21 companies has a combined turnover of €2.3bn and EBITDA of €282m
Draper Esprit acquires two Seedcamp funds
Deal sees the acquirer take stakes in a number of tech startups, including Transferwise
Lexington, BC Partners agree $1bn stapled secondary deal
Lexington was previously reported to be considering acquiring up to €1.2bn in secondary commitments
Newgate to acquire Arle Capital Partners
Development comes five months after Arle announced it was in the process of liquidation
Stapled secondaries moving upmarket
BC becomes the latest firm to benefit from a stapled secondaries deal, as some industry insiders anticipate a developing trend
Lexington to commit up to €600m to new BC fund in stapled deal
Lexington Partners agrees to buy €1.2bn of LP stakes in BC IX, while committing to fund X
Neuberger Berman in exclusive negotiations for FII's portfolio
Exclusivity ends the bidding process for the portfolio, which also attracted Tikehau and Italmobiliare
Montana to acquire GP Nem
Proposed deal follows a government-led €17bn rescue package issued for Banca Popolare di Vicenza
Tikehau, Italmobiliare make offer for Fondo Italiano portfolio
GPs set up an equally split joint venture to acquire FII's portfolio of assets
GMT liquidates 2006 fund in direct secondary deal
Consortium of investors acquires portfolio, with LPs given the option to recommit to a new vehicle
Ardian strikes $2.5bn secondary/primary transaction with Mubadala
Ardian takes majority stake in an existing PE portfolio and becomes lead investor in a new $1.5bn fund
Stage Capital spins out from NBGI Private Equity
Deutsche Bank and Goldman Sachs back the creation of a new independent firm with €300m in AUM
HarbourVest buys extra €42m commitment in Indigo Capital V
LP almost quadruples commitment to mezzanine debt provider's 2007-vintage vehicle
JZ Capital sells Winn Group for €21m
Deal marks completion of the two-stage direct secondaries sale of JZ's EMC 2010 vehicle
Verdane invests in Searchmetrics
Verdane simultaneously acquires shares in German startups Smava and Hornetsecurity
Brexit could boost secondaries market, says Idinvest’s Bavière
Idinvest CEO Christophe Bavière calls for a measured approach to evaluating the long-term impact of the British referendum
Abundant dry powder fires secondaries prices sky high
This second installment of our secondaries focus takes an in-depth look at pricing trends
Verdane acquires wind power portfolio from Pentaco
Portfolio consists of wind turbine industry suppliers JSB Group, Polytech and Jupiter Group
LBO France moves into VC with Innovation Capital purchase
LBO France takes over Innovation Capital's investment vehicle Sisa with €68m in commitments
JZ makes 1.3x money on €96.3m direct secondary
Deal sees firm reap combined €96.3m in proceeds and 1.3x exit multiple
Verdane acquires five-company portfolio from Sequent Invest
Direct secondary deal is second portfolio acquisition by the Nordic specialist GP in 2016
Ardian picks up $940m PE portfolio from USS
Transaction marks one of Ardian's largest purchases from a UK pension fund
Verdane buys Aggregate Media portfolio in direct secondary
GP’s Verdane VIII fund acquires shares in seven Aggregate-backed companies
