Madeleine Farman
The move brings the total number of partners at London-headquartered Hollyport Capital, which specialises in acquiring tail-end private equity portfolios, to eight.
The firm has made five appointments and has added a further five individuals as part of its 2022 analyst programme in recent months.
When dealing with waterfalls, there are tools that can be used to create economic alignment from the outset.
The firm invested $16.8bn across 27 secondaries deals last year, more than 4.4x the amount it invested the prior year.
An incentivised management team is crucial to ensuring ultimate success in GP-led secondaries deals.
Finding the pricing sweet spot to satisfy sponsors, buyers and LPs is tougher than ever in today’s market.
Conflicts of interest can arise within the LP base as LPACs act in their own interest, not in the interest of the fund.
For the GP, internal alignment is another opportunity to manage team dynamics. Third parties will want to see that the right people participate in the economics.
The firm is currently deploying its 2018-vintage Headway Investment Partners IV, which closed on €372m in 2019.
Some sponsors are still able to drive aggressive terms in GP-led deals, though perhaps not for much longer.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: