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Navigating full pricing, the rise of restructurings and the use of seller financing in today’s booming secondaries market were among the topics debated recently in New York at a PEI roundtable.
The median of the highest bids received by Elm Capital was 97 percent of net asset value for buyout funds.
Leverage is not new to the secondary market, but it has become more prevalent and consequently LPs should keep an eye on the impact of its use, says Chason Beggerow, a partner at private equity advisory firm Altius Associates.
Manhattan Venture Partners has launched as a research-driven firm focused on the secondaries market for late-stage private technology companies.
Partners Group is looking for non-traditional private equity secondaries deals and infrastructure secondaries opportunities in Europe’s brownfield market.
Lexington Capital Partners VIII launched in September 2013 with an $8bn target.
The Swiss wealth management firm has sold its stake in Partners Group Secondary 2008.
FW Capital simultaneously marketed its third secondaries fund and its eighth primary fund of funds, which garnered a $180m capital overlap, said head of private equity Steve Baker.
Landmark Equity Partners XV launched in 2013 and surpassed its $2.5bn target.
Abbott Capital plans to invest between $50m and $100m in secondaries each year.