Editor's View

Secondaries firms are increasingly divesting stakes they’ve picked up on the secondaries market. What gives?

Good deals at a discount have been becoming harder to find in Europe for a while now, so what are GPs doing if they’re not playing the discount game?

A generational boom in fund liquidations could prompt an explosion in direct secondaries activity.

A maturing secondaries market may help address some of the historic challenges preventing defined contribution retirement plans from investing in private equity.

As Ardian nears final close for its latest secondaries fund, we take a look at who’s backing its efforts and what that means for the wider industry.

Secondaries advisors are increasingly incorporating fairness opinions into GP-led restructurings, giving LPs an independent perspective while providing insurance for fund managers. Overall, fairness opinions are seen as a step in the right direction toward better representation of LPs.

If 2015 was the year of real estate secondaries, 2016 could be the year energy transactions come into their own.

Co-investments can help a secondaries buyer bridge any financing gaps to purchase a large portfolio.

New and existing secondaries firms are becoming more focused on particular niches, which is a boon for LPs wanting more specificity but also a sign that returns will be less uniform in the future.

While most traditional secondaries market participants scoff at electronic exchanges’ impact on their strategies, some are engaging with them on behalf of their portfolio companies.