spin-outs

The Maryland-based firm will continue to manage the American Capital Equity III fund after the Ares acquisition, but under a new name.

The team joins asset manager Patrimonium three months after the successful restructuring of its 2007-vintage fund.

The new firm, Colmore, will be led by Ben Cook, who joins from fund administrator Ipes London.

As it prepares to sever ties with its listed affiliate, the newly named Epiris, led by Alex Fortescue, is looking to raise fresh capital early next year.

The National Bank of Greece spin-out will focus on delivering returns for its two backers, chief executive Graham Thomas told PEI's sister title Secondaries Investor.

The UK-focused firm extended the fundraising by six months to take account of investor uncertainty around the UK’s EU referendum.

The firm, founded by a former co-head of US healthcare at Apax Partners, has fund commitments from LACERS and Los Angeles Police & Fire.

Tjarko Hektor, who worked on North American secondaries at Carlyle’s fund of funds until last year, has launched New 2nd Capital, focusing on GP-centred transactions.

The new firm is currently targeting £100m for its first institutionally-backed fund.

Abac Capital will target mid-market opportunities in Spain.