Guest commentary

Henry Zhang Morningside
The strategy should be known as private portfolio investing, says Morningside founding partner Henry Zhang, arguing the name better captures its actual activities.
Innovation should drive the continued growth of the GP-led secondaries market, write Nigel Dawn and Ryan Rohloff in this sponsored article.
risk
Tyrus Capital's Gunter Waldner, formerly of AlpInvest Partners, says the market is still littered with downside risks, making disciplined asset selection more important than ever.
Investors are increasingly interested in tailored secondaries structures, writes James Jacobs, global head of real estate for Lazard’s private capital advisory group.
Fund finance
NAV-based lending facilities can be more effective – and encounter less resistance from LPs – than preferred equity, says head of transactions at Rede Partners Magnus Goodlad.
credit
The private debt asset class has matured to the point where the secondaries market is beginning to develop scale, writes Daniel Roddick of Ely Place Partners.
sunshine
Clarity on withholding tax issues for non-US investors means secondaries trades can now be conducted with greater ease, write Macfarlanes’ James McCredie and Florence Barnes.
Kempen Capital Management’s director, private markets, Marvin de Jong, warns that the covid-19 crisis is not a re-run of 2008.
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