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Chris Witkowsky

run away, quit, retreat, exit, door
Data from Lazard shows that buyers are moving away from single-asset deals priced off a preceding minority stake sale.
Big financial institutions are increasingly looking for ways to expand into secondaries advisory to help meet the demand of the growing market.
As fundraising becomes tougher in the volatile market, with many LPs at or above their allocation caps, more GPs may use tender offers as a way to reach their fundraising targets.
Some large processes are hitting delays as pricing is shifting in the changing markets, and building large enough syndicates for mega-deals has become challenging.
Some portfolios that hit the market this year may take longer than expected to sell or may not transact as buyers look for pricing that reflects the reality of market turmoil.
GP-led deals like CCMP’s anticipated process represented a much larger portion of secondaries deal volume last year and this year to date.
Mozaic Capital is advising on the process designed to rebalance the pension's $120.5bn portfolio, amid the resurgence of LP-led deals.
The secondary is the first for Inovia, and represents a rare instance of not only a large continuation fund process in Canada, but one that involves VC assets as well.
The process on the world's second-largest talent agency was led by Goldman Sachs, with ICG and Neuberger Berman as part of the investor group.
Secondaries Investor spotlight podcast
Igor Rozenblit, former co-head of the US Securities and Exchange Commission's private funds unit, discusses the advent of continuation funds and the biggest regulatory risks facing the PE industry in this seven-minute podcast.

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