Clip clip hooray!

Clipway, a new PE secondaries firm founded by former Ardian executive Vincent Gombault, has received minority stake investments from General Atlantic and French asset manager, Carmignac. The firm, which is led by Gombault and Ingmar Vallano, is in the process of fundraising $4 billion for its first fund. The new partnership with two well-established management groups should help it to move along at a faster clip. Both PE and traditional asset managers are going back for seconds as their appetite grows for PE secondaries. Clipway will focus on LP-led opportunities using proprietary next-generation technology called Tech-Enabled Secondaries System (TESS). With the secondaries market continuing to mature, this could be an ideal time for TESS to impress.