Europe-focused credit manager Serone Capital Management has launched a buyout secondaries strategy and is raising a debut vehicle for the initiative, according to Secondaries Investor. The London-headquartered alternatives firm has made two senior hires to co-lead the new strategy.

Former Ardian managing director Georges van den Bosch Wazen and UBS's co-head of secondaries Ian Brungs have joined to spearhead the effort, a source familiar with the matter confirmed. Both bring extensive experience in secondary markets to the new venture.

The move marks Serone Capital Management's expansion beyond its core credit focus into the buyout secondaries space. The firm aims to capitalize on growing demand for liquidity solutions in private equity portfolios across Europe. The debut fund will target opportunities in the mid-market segment.