Welcome to Behind the Buyouts, The Deal’s podcast where we sit down with leading private markets investors and drill down into their buyout, growth equity and venture capital deals.
For this episode, Priya Pradhan Karkar, vice president of business development at Kline Hill Partners LP, talks about the firm’s successful effort to raise its third fund, with $450 million in commitments, plus an overage fund of $150 million that will support investments in larger transactions.
Kline Hill and other firms in the secondary business have made strides in creating a more diverse workplace, she said.
Karkar also offered advice to newcomers to work with mentors to help their career advancement.
“Find your champions and do your networking,” Karkar said. “The earlier you realize it’s a two-way street, the better off you’ll be. If you have an opportunity to help someone, help someone. Don’t just do it expecting something in return. Generate goodwill — that’s a principal throughout the firm because we’re all about partnerships internally and also with our investors.”
Despite a lull in secondary market activity due to Covid-19, Karkar expects activity to pick up in the fourth quarter.
While the secondary market has traditionally been a place for larger deals with big limited partners as buyers, Kline Hill focuses on the lower end of the middle market in the buying and selling of PE fund positions.