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Pretium’s $1.5bn deal is one of the largest GP-led secondaries transactions recorded, as such deals account for a growing share of the market.
Deal volume in the asset class fell almost 40% during the period – a dip which is expected to be temporary.
The vehicle will allow investors to buy and sell their equity stakes in the fund within minutes and without any negotiation process.
The firm follows CBRE GIP and Madison International Realty in acquiring assets from a fund nearing the end of its life.