The London-based private equity secondaries specialist firm has added an investment principal to its team, amid rising interest in these types of assets.
The $5.2 billion Government Employees Pension Service will hand out $100 million in global private equity secondaries mandates as part of a plan to raise its alternatives exposure.
The Shanghai-based wealth manager is doing due diligence on asset managers for the two strategies, one focused on private equity and the other on real estate.
Asian investors comprise nearly a fifth of private equity secondaries fund Pomona Capital VIII, with allocations from pensions, sovereigns, insurers and family offices.
Some $18 billion in regional private equity AUM is trapped in inactive vehicles, with nearly half of Indian funds thought to be among the walking dead.
While the backdrop for secondary PE deals is ripe in Asia, and particularly China, given the IPO backlog, the market still needs time to develop, agree specialists.