Adam Le
Featherlight Capital may seek up to $1bn for its debut vehicle, with plans to make individual commitments of $75m to $125m, sources say.
This is at least the second time IDG has tapped the secondaries market for a CV deal, having previously completed a GP-led five years ago.
Blackstone is bullish on the region and believes it will benefit from geopolitical uncertainty, say Steve Schwarzman and Jon Gray.
Amid a challenging fundraising environment, investors are scrutinising key person clauses, management fees and carry waterfalls.
The firm has raised $2.2bn for a dedicated fund 10 months after being the lead investor in a GP-led process moving two companies out of German PE/VC firm LEA Partners' Fund I into a separate vehicle.
The Wallenberg Foundations-related investment office is led by ex-Skandia PE exec Daniel Winther and aims to quadruple its net assets to €1bn within five years.
Industry Ventures has beaten the initial target for its latest flagship secondaries fund and appears to have also increased the total amount of capital it is seeking.
The market for sub-$100m LP stakes is underserved by intermediaries, says Tap chief executive Jeff Leathers
There is some good news for investors worried about the drive by Republican state legislatures to divest or prohibit investments in funds with environmental and sustainability goals. Some public pensions – the deep pockets that have fueled the rise of ESG funds – are pushing back against lawmakers who want to tie their hands.
Adrian Millan from PJT Partners offers advice to LPs considering a sale on the secondary market, such as selling a portfolio of VC funds in tranches over multiple quarters to fetch the best prices.