Hannah Zhang
Virginia Retirement System and the State of Wisconsin Investment Board were among the most active LPs making secondaries investments last year.
Ares Management data, shared with Secondaries Investor, shows deal volume for the asset class fell 21% in 2023 from the record $12.4bn clocked the year prior.
The final close of TPG GP Solutions will be one of the key pillars driving the firm’s growth in 2024, CEO Jon Winkelried said in its latest earnings call.
The RMB fund targets Chinese LPs and aims to hold its first close this year.
Lazard expects deal volume this year to approach or exceed 2021 levels as LPs and sponsors seek innovative liquidity options in the secondaries market.
The firm also closed on $1.5bn and $900m for its latest VC and real estate secondaries vehicles, respectively.
Lexington Partners, Strategic Partners and Goldman Sachs Asset Management played a pivotal role in driving fundraising in the secondaries space last year.
The firm’s sixth secondaries flagship will be 'meaningfully' larger than its predecessor fund, according co-CEO Erik Hirsch.
The firm's predecessor fund has been fully deployed to LP and GP-led real estate secondaries transactions across the Asia-Pacific region.
Buyers need to understand the fundamentals of Chinese secondaries before evaluating discounts, according to Coller Capital’s Zhan Yang.
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