Environmental, social and governance issues increasingly prevent LPs from committing to a specific fund, but might they also cause an uptick in secondaries deal flow?
Earlier this month an SEC official speaking at an industry conference signaled the US regulator’s interest in stapled secondary deals. Do they create situations where fiduciary duty may be skirted?
We recently caught up with HarbourVest on why and how it will begin offering secondaries exposure to retail investors.
Repairing pre-crisis partnerships is a $100bn market, but the technical challenges are considerable and best practice remains a work-in-progress.
The need for founder and employee liquidity in small, pre-IPO companies has fuelled specialist secondaries activity since the dotcom-days. But as the market shifts towards employee liquidity programmes, regulators are keen to establish a ‘fair, liquid and transparent’ market.
Complex structures, scale and breaching safe harbours top lawyers’ lists of challenges unique to today’s secondaries market.
Think you know the difference between a fund recap and a restructuring? Your peers might not.
2014 was the year of high priced fund books and cheap leverage, Coller Capital chief investment officer Tim Jones said.
Perseus’ five legacy funds finally have a new owner in distressed investment firm Centre Lane, giving longstanding LPs a liquidity option. But it wasn’t your average secondaries deal.
Just three advisory firms accounted for nearly half of the estimated $52bn in secondaries activity last year.
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