Editor's View

Our in-house take on what news, trends and developments affecting the secondaries market means to its different participants. In these weekly commentaries we stir discussion and prompt debate as well as comment on issues important to market participants in a lively and thought-provoking way.

Anatomy of an A-team spin-out

The spin-out of ABN AMRO's private equity unit to form Capital A shows buyers are willing to accept less by way of secondaries assets if they really like the team.

The case for clarity in end of fund life issues

Ambiguity around who pays for what when a vehicle comes to the end of its term could scupper growth in the GP-led secondaries market.

Are you ready to rumble?

Submissions for 12 secondaries categories in sister publication Private Equity International's annual industry awards close next week.

Why LPs should think positively about fund restructurings

There is a cohort of crisis-era funds which investors would be better off getting out of or re-incentivising their GP.

Stapled deals: sweeteners that come in many flavours

As stapled deals evolve to take all shapes and sizes, GPs and their advisors must continue to disclose their effect on pricing to LPs.

Taking GP-leds to the masses

The increasing acceptance of GP-led deals has opened up opportunities in the smaller end of the market, but unique challenges arise when dealing with smaller funds.

When it comes to fundraising data, looks can be deceiving

Lumpiness, rather than sentiment, is why secondaries fundraising is down.

Why tax reform is proving hard to digest

At a secondaries-themed breakfast we found that, unlike the pastries, changes to US tax rules are not going down well.

Why the hurdle rate needs a revamp

For all the debate it provokes, the conventional hurdle rate has remained stubbornly untouched since the ’80s.

Five things to expect from ILPA’s guidance on GP-leds

Expect a document that gets into the weeds when the LP body issues its best practices for fund restructurings.

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