Hannah Zhang
While there is growing demand for liquidity in the GP stakes market, significant structural barriers keep capital locked up.
In this podcast, two industry veterans discuss the different types of GP stake secondaries transactions, the motivations driving market participants to pursue such deals, and the outlook for this emerging segment of the secondaries market.
While many secondaries investors are willing to join as syndicate participants, few are willing to take on the 'onerous' task of a lead investor role in CVs, panellists said at the Fund Finance Association European Symposium held in London.
ADIA has backed Beijing-based GL Capital's single-asset CV just months after it emerged as a co-lead buyer on Tikehau Capital's continuation fund.
The SPV is set to finance the growth of portfolio company, Argano, and support shareholder buybacks to consolidate Trinity Hunt’s ownership of the asset, Secondaries Investor understands.
MN and its European peer APG are among a wave of global LPs seeking to offload private market holdings amid market uncertainty.
It is more in credit GPs’ interests to actively pursue liquidity than remain passive with tail-end portfolios.
LGT Capital Partners and Future Standard have lined up as buyers on a company Incline acquired two years ago, Secondaries Investor understands.
The Chicago-based firm previously ran a continuation fund process on insurance company AssuredPartners, which was later sold in an M&A deal.
Unlike more traditional continuation fund deals, no assets or fund stakes are being rolled into a new vehicle in this deal.