Secondaries

News on professional service providers to the private equity market

Permira has offered its LPs a way out of their commitments - but at a steep price

The listed Permira investor has taken a number of measures to boost liquidity, including reducing by £796m its original commitment to Permira’s fourth buyout fund.

The Southern California-based private equity advisor has hired James Gamett to head up secondary investments, which the company believes has become an attractive investment area.

The firm failed to deliver on the terms of its employment offer to Gary Stevens, the suit alleges

The global private equity firm is in talks with its limited partners about the issue of liquidity in current markets

DIF, a Dutch infrastructure fund manager, is buying the additional stake in the public private partnership joint venture with Netherlands-based BAM Group through its €150m first fund, DIF PPP.

The Euronext-traded fund of funds expects that half of its commitments in the next 12 months will be in the secondary market.

Boston-based asset manager HarbourVest listed its first public vehicle, HarbourVest Global Private Equity Limited (HVPE), on Euronext Amsterdam in December 2007. This September, the firm appointed Steve Belgrad of Affiliated Managers Group as HVPE's chief financial officer. Jennifer Harris spoke with Steve about the challenges of running a listed vehicle in today's turbulent markets.

Many GPs are finding it necessary to go on longer road shows in the current market, but they should be careful in seeking extensions from LPs