Sun Capital and New Mountain Launching Secondaries Funds

Grapevine has told me that Sun Capital and New Mountain are both looking to either acquire or build out a secondaries division to do GP-led deals.

Having Sun involved in Secondaries is going to be a shit show but also highly entertaining. Leonard Green unveiled last week that they hired Blackstone and Alpinvest execs to build out their strategy, and Accel-KKR are doing it solo without needing to hire secondaries talent.

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