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.
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.
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.
The deal is one of several that allow large organisations to shift private equity into new vehicles that provide more space, and fresh capital, to continue building out the strategy.
The original deal was set to be one of the largest GP-led secondaries ever, but well into the process Panasonic decided to acquire the largest asset, supply chain software provider Blue Yonder.