U.S. illiquid-asset exchange, SecondMarket, is targeting traditional money managers to use its company, Investment News reports. The firm is targeting asset managers to boost growth, said Jeremy Smith, chief strategy officer and head of the private-partnerships market at SecondMarket.
PIMCO became one of its clients when it allowed its employees to trade private shares on SecondMarket. Venture capital funds were the most active buyers on SecondMarket, making up more than 40% of complete trades.
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