Latest news with #secondariesmarket
Globe and Mail
7 days ago
- Business
- Globe and Mail
TPG Twin Brook Closes $3 Billion Continuation Vehicle, Led by Coller Capital
TPG Twin Brook Capital Partners ('TPG Twin Brook'), the middle-market direct lending platform of TPG Inc. (NASDAQ: TPG), and Coller Capital, the world's largest dedicated private market secondaries manager, today announced the closing of a $3 billion credit-focused continuation vehicle, marking the largest completed transaction of its kind to date in the private credit secondaries market. This press release features multimedia. View the full release here: The continuation vehicle was established to acquire a diversified portfolio of floating-rate, senior secured, sponsor-backed loans from TPG Twin Brook's 2016 and 2018 vintage funds. The vehicle supports long-term alignment between TPG Twin Brook and its LP base by providing existing investors with an attractive liquidity option, and offering new investors access to a diversified and high-quality pool of private credit assets alongside a long-tenured manager. It also reflects increasing institutional demand for credit secondaries, with transaction volume in the category accelerating as the broader private credit market continues to mature and expand. 'The successful close of our first continuation fund underscores the strength of our partnership with Coller Capital and our shared commitment to maximizing the value of high-performing assets while delivering creative liquidity solutions to our investors,' said Trevor Clark, Founder and Managing Partner of TPG Twin Brook. 'The strong support we received validates our flexible, solutions-based approach, and we look forward to continuing to manage these loans through the next phase of their lifecycle.' 'We're proud to back TPG Twin Brook in what is a milestone transaction for the private credit secondaries market,' said Michael Schad, Partner and Head of Coller Credit Secondaries at Coller Capita l. 'This is a high-quality, diversified portfolio managed by one of the most consistent credit platforms in the market, and we are pleased to support its continued success with long-term, strategic capital." 'This transaction demonstrates what can be achieved when strong portfolio fundamentals meet thoughtful structure and partnership,' adds Jonathan Leu, Principal at Coller Capital. 'We appreciated the opportunity to work closely with TPG Twin Brook to design a solution that delivered on multiple priorities: liquidity, alignment, and long-term capital." The transaction supports long-term alignment between TPG Twin Brook and its LP base while enabling continued active management of its highly diversified and performing portfolio of North American middle-market borrowers. Campbell Lutyens served as financial adviser on the transaction. Legal counsel for Coller Capital was provided by Debevoise & Plimpton LLP. Ropes & Gray LLP acted for TPG Twin Brook. Deutsche Bank provided financing for the transaction. About TPG TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $261 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit About Coller Capital Coller Capital is a global leader in the secondary market for private assets, renowned for being a pioneer and innovator in the asset class. Founded in 1990, Coller provides investment and liquidity solutions to private market investors worldwide and currently manages $40 billion in private equity, private credit, and other private market vehicles. With headquarters in London and offices across North America, Europe, and Asia-Pacific, our multinational team offers a truly global reach. Coller has exclusively focused on secondary investing since inception and today boasts one of the largest dedicated investment teams in the asset class. In July 2025, Coller Capital announced the final closing of Coller Credit Opportunities II ('CCO II'), bringing a record total of $6.8 billion raised for Coller's credit platform in its latest fundraising cycle. Coller's Private Wealth Secondaries Solutions (PWSS) business offers perpetual funds to eligible private wealth investors globally.
Bloomberg
11-08-2025
- Business
- Bloomberg
Jefferies Extended Non-Competes for Private Capital Advisory Arm
By and Katherine Doherty Save Jefferies Financial Group Inc. temporarily tightened employment contracts for its private capital advisory teams to discourage competitors from poaching talent that's in greater demand amid a boom in the secondaries market. The firm rewrote the contracts in early 2025 to include one-year gardening leaves for partners and managing directors, as well as 30 days for junior analysts and associates, according to people familiar with the matter.
Yahoo
26-06-2025
- Business
- Yahoo
Carlyle Makes New Retail Fund Push to Buy and Sell PE Stakes
You can find original article here Wealthmanagement. Subscribe to our free daily Wealthmanagement newsletter. (Bloomberg) -- Carlyle Group Inc. is rolling out new funds for individuals that will buy and sell secondhand private equity fund stakes. The bet it's wagering: Mini-millionaires, rather than billionaires, will fuel the next wave of expansion in a growing corner of finance known as the secondaries market. A Luxembourg version of the firm's new retail fund, Carlyle AlpInvest Private Markets Secondaries Fund, launched in recent months. Another proposed version in the US, pending regulatory approval, will be open to accredited investors, a category that includes individuals who earn over $200,000 in annual income, according to a draft prospectus. UBS Group Inc. is the distribution platform for Carlyle's initiative, according to an emailed statement. This gives the Swiss bank's network of wealthy individuals and financial advisers a piece of Carlyle's bets while the private equity firm ramps up its effort to become a larger household name. Carlyle declined to comment on the funds. The money manager has been planning the new vehicles as a wave of pension funds are offloading their stakes for cash because yields from buyout funds have dried up during a prolonged deal freeze. President Donald Trump's threat to cut federal funding for elite schools is also pushing endowments to weigh sales. Read More: Yale's $2.5 Billion Private Equity Sale Tests Vaunted Model 'When uncertainty and volatility in the market limit exits and liquidity, secondaries are stepping in to fill the gap,' said Carlyle's head of secondaries, Chris Perriello. Private equity will always be more illiquid, costly and complex than stocks and bonds. But the growing clout of secondhand buyers are challenging conventional wisdom that fund positions are always difficult to sell. The new Carlyle funds are designed to give investors the option to collectively redeem as much as 5% each quarter, and will also raise new money each month, according to a draft prospectus. Across the industry, evergreen secondaries funds for retail investors have yet to be tested by prolonged market volatility. Funds are being scrutinized over whether they're buying less-than-stellar assets that institutions are offloading at discounts — and whether they're aggressively marking up valuations. 'Secondaries investors take different approaches, with some prioritizing discounted pricing and others focusing on assets with solid value creation theses,' said Perriello. Carlyle Chief Executive Officer Harvey Schwartz has ambitions to make Carlyle a bigger player in the retail space. Since his appointment, the firm has launched a fund known as CAPM that invests across secondaries and other private markets investments. More recently, the firm renamed the secondaries business 'Carlyle AlpInvest' in a signal of the $89 billion unit's growing importance to the company and its push to reach more individuals. The firm's global wealth head, Shane Clifford, who was hired to boost growth in an area that Carlyle had historically under-invested in, has now expanded the group's headcount to more than 100 in two years. He expects money from bank channels to rise to more than a fifth of flows from around 15% in the next 18 months. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
