Michael Baruch
The US regulator's definition of what an adviser-led transaction refers to is not clear in its recent proposals, according to law firm Morgan Lewis.
Will the strategy remain attractive after markets rebound?
Sizeable closes from Coller Capital, LGT Capital Partners and others anchored fundraising in a year when many players entered the growing market.
The deal closed the books on Prospect’s $200m Prospect Partners III, with almost all of its LPs opting to cash out, partner Erik Maurer tells Secondaries Investor.
Large recapitalisations and a rebound in LP portfolio transactions drove real estate secondaries to the highest mark yet.
Metalmark Capital's single-asset SPV on Innovetive Petcare could be worth $450m, Secondaries Investor understands.
Despite the shift to newer vintages, early distributions and higher IRRs remain important to secondaries investors, said managing director Cari Lodge.
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.
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