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David Lee, Duff & Phelps
The best way to determine if net asset values reflect reality is to perform a fundamental valuation of each of the individual assets in GP-led process, writes Duff & Phelps's David Lee.
Single-asset transactions, a growing part of the secondaries market, can offer unique benefits to all parties, write Evercore’s Nigel Dawn, Francesca Paveri and Dave El Helou.
Abe Finkelstein
The little known ‘low-funded secondary’ can help GPs in the short and long term, writes Vintage's Abe Finkelstein (pictured).
glass slipper
The secondaries market's transformation into a $70bn market is due to both a wave of the Fairy Godmother’s wand and the payoff for years of scrubbing floors, write Houlihan Lokey's Jeff Hammer and Paul Sanabria.
Disclosure, the role of the LPAC and status quo options may make some GP-led restructurings unaligned with the industry body's guidelines, according to Cleary Gottlieb.
On the heels of ILPA’s recent best practices on GP-led secondaries, BRG’s Finbarr O’Connor and Gavin Farrell take a practical look at issues important to LPs, and how GPs can address the guidance as they formulate transactions.
Arc de Triomphe, Paris
Co-founder Agnès Nahum and partner Alexandre Delos discuss how the firm uses secondaries as a portfolio management tool and how fund duration and market cycles influence its decision to sell stakes.
money
Tom Angell, partner at financial services firm WithumSmith+Brown, dissects the results of sister publication pfm's Fees & Expenses Benchmarking Survey.
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