The buyout firm is no longer proceeding with its proposal to move assets from Apax Europe VII into a continuation vehicle, Secondaries Investor has learned.
The firm's main business is giving Canadian investors low-cost access to KKR funds through a Canada-domiciled vehicle.
Law firm Kirkland & Ellis has elevated Jaclyn L. Rabin and Paul Mysliwiec to the position of partner as part of a raft of promotions.
Nicolas Lanel, managing director and head of European secondaries advisory at the investment bank, will be replaced by Lea Lazaric Calvert, Secondaries Investor has learned.
The Swiss niche secondaries firm took 10 weeks to raise its previous vehicle which held a first and final close on €406m in 2015.
The firm's mature secondaries fund has acquired stakes in vehicles managed by Vision Capital, DH Private Equity and Abingworth, among others.
The listed vehicle invested in six secondaries deals in the three months to the end of August, including transactions in transport, energy and turnaround funds.
This is the first dollar-demoninated fund for the tail-end specialist, which attracted US and multinational institutional LPs to its latest vehicle.
Carlyle, Apollo and Blackstone funds were among those that changed hands in the deal involving $644m of NAV.
The lower- and mid-market-focused firm had hired Greenhill Cogent to work on a tender offer process on its 2009-vintage fund, Secondaries Investor has learned.