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Michael Baruch

real estate growth
Large recapitalisations and a rebound in LP portfolio transactions drove real estate secondaries to the highest mark yet.
Man with puppy
Metalmark Capital's single-asset SPV on Innovetive Petcare could be worth $450m, Secondaries Investor understands.
Cari Lodge, managing director
Despite the shift to newer vintages, early distributions and higher IRRs remain important to secondaries investors, said managing director Cari Lodge.
Fundraising past limit
The Darien, Connecticut-based alternatives manager has raised more than $1 billion over its initial target.
Secondaries fundraising figures for 2021 came in more than $35bn shy of the prior year, but they were more impressive than they seem.
While GP-led deals managed to retain their dominance over LP deals by a thin margin, both halves are poised for continued growth this year.
As Brazilian pensions finish divesting their private assets, buyers hope a primary investing boom will have positive implications for the secondaries market.
LPs should be aware that buyers often mark up assets to par on day one, even if they are acquired at a discount.
The White Plains-based adviser has promoted four as its LP business comes up on a full year of operation.
merger and acquisition business concept, join puzzle 3d
The partnership will see secondaries market veterans and former Coller Capital investment professionals Sebastien Burdel and Luca Salvato join in London and New York, respectively.

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