Terra Firma Capital Partners has been added to the list of the 20 most sought-after managers of large-cap Western European buyout funds on the secondary market, showed the annual rankings by secondary market brokerage firm Setter Capital.
Alternative investment firm manager 3i Group's Eurofund family, which was on the list last year, is not on the new list.
This is not a function of 3i funds' performance, but rather of higher demand for limited partnership interests of other firms, said Kristina Kulikova, Setter Capital spokeswoman.
Setter Capital executives rank the managers whose most recent funds were more than $2 billion. The ratings are derived from the shortlists of limited partnership interests that the more than 1,300 secondary alternative investment market buyers are interested in buying. Setter Capital ranks the fund families but does not identify the funds sought.
CVC Capital Partners' CVC Europe fund family retained its top spot, followed by Apax Partners' Apax Europe fund family, which moved up from fourth position. Last year's second-place holder — EQT's flagship leveraged buyout funds — moved down to third this year. Terra Firma is No. 20 on the list, which is ranked by the numbers of buyers listing one of the manager's funds.