While it’s easy to point to liquidity constraints as an anomaly, the market believes secondaries’ record-breaking streak should continue.
There's a new type of entrant to the secondaries buyside, and it's not your typical buyout-come-secondaries firm.
The venture secondaries market is taking off, yet many GPs and LPs are still unfamiliar with how such transactions work.
The sponsor-initiated secondaries market will hit a stumbling block if incumbent LPs’ needs and wishes aren’t prioritised over those of incoming ones.
Institutional investors like Korea’s National Pension Service entering the buyside is crucial if the market is to grow.
There are some sizeable LP-led portfolios out in the market. However, one LP believes collateralised fund obligations and NAV loans could provide attractive alternatives to traditional portfolio sales.
Some LPs have explored ways to share in the future profits of an asset sold out of a CV shortly after the secondaries process closes.
A court of appeals decision in the US this week to render null and void the SEC’s private fund rule doesn’t signal the end of efforts to better protect investors.
Amid the broadening supply of private wealth-focused evergreen vehicles, ICG and Dawson Partners are the latest managers to join the fold with funds focused on secondaries.
Not every firm has smashed the lights out when it comes to fundraising for vehicles focusing on concentrated bets.