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.
The rationale for the deal is to provide liquidity to investors in older funds while still holding the assets.
New Mountain is running the single-asset process for medical data-focused Datavant, which it acquired through a merger with its portfolio company Ciox Health in 2021.
Lead buyers in some recent transactions have been able to negotiate a less than 1% management fee, according to a paper from Proskauer.
The firm had considered running a process on the same portfolio company at the end of last year, Secondaries Investor has learned.
The transaction marks the fourth transaction from ICG LP Secondaries Fund I, Secondaries Investor understands.
3Spoke Capital provides structured secondary liquidity to LPs, GPs and investors who own direct interests in companies.
Secondaries is an area of opportunity amid rising inflation and interest rates, according to the alternatives giant's chief executive.
Getting a fairness or valuation opinion on a private equity GP-led secondaries transaction is a straightforward, albeit costly task. In credit secondaries, however, the rule change creates a cumbersome burden.
There have already been some notable improvements in LP-led pricing in Q3 this year, according to a buyer survey from the advisory firm, shared with Secondaries Investor.
Presenting the latest instalment of Second Thoughts, a special series from Secondaries Investor that delves into the latest trends affecting the fastest-growing market in alternatives.
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