Madeleine Farman
Madeleine Farman is a senior reporter for PEI Group’s Private Equity International and Secondaries Investor titles, based in London. Prior to joining PEI, she had covered private equity, private capital and advisers associated with the industry for other newsrooms and publications since 2016. Originally from New Zealand, Madeleine began her career in radio in Auckland.
While North America has coalesced around a common process, some transactions in Europe are subject to different time frames and varying access to information, attendees at the BVCA Summit were told.
The dream of a private equity evergreen fund structure continues with murmurs that market participants are exploring ideas for the launch of just such a vehicle.
Allianz can already invest in secondaries via its Allianz Private Equity Fund and Allianz Global Diversified Infrastructure Equity Fund.
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.