Park Hill Group, the US-headquartered placement agent that provides secondary intermediary services has hired Mr Pablo Calo into its secondary advisory business as managing principal. He is to be based in Park Hill's London office where he will focus on providing advisory services to clients across Europe. Mr Calo joins from private equity fund of funds manager, PineBridge Investments, where he had been head of European private equity secondaries. Park Hill's secondary advisory business delivers solutions to clients seeking portfolio liquidity, unfunded commitment relief and access to secondary investment opportunities.
Private equity fund of funds manager, Commonfund Capital, has appointed Cari Lodge to a newly-created position as director to oversee the firm's growth and management of secondary investments. She joins the firm from Tulane University Endowment where she was responsible for private equity and private real assets investments. Prior to that she was a director at secondary fund of funds manager, CS Strategic Partners. Commonfund Capital indicated that it expected that secondary market investments was to be of increasing importance across its programs - core private equity, venture capital, emerging markets and natural resources.
Private equity fund of funds managers are an important part of the buy-side of the secondary market. Of the 719 firms that have indicated an interest in buying private equity fund interests on the secondary market within the next 24 months in Preqin's Secondary Market Monitor, 26% are private equity fund of funds managers.