Commentary

Thought leadership from the secondaries sector’s leading voices including legal experts, industry veterans, asset class specialists (from real estate to private equity) and academics.

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What we know about Norinchukin’s $5bn sale

Anyone doubting that Asia could provide meaningful secondaries dealflow should think again.
Raphael Haas

How multi-buyer sales processes can provide higher pricing for sellers

San Francisco-based Melting Point Solutions seeks to maximise pricing for sellers by seeking bids for single items as well as whole portfolios. Raphael Haas, the firm's chief executive, talks to Secondaries Investor about why multi-buyer sales can deliver better pricing for sellers and why non-dedicated buyers can provide outlier pricing.
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Why emotions are the biggest threat to scuppering a GP-led deal

While GP-led processes can be technically and legally complex, emotions are often the biggest hurdle to closing a deal.

Park Hill on the swift evolution of the GP-led secondaries market

Jon Costello, head of the Secondary Advisory Group at PJT Partners, explains the impact on the broader private equity industry.
silhouette construction site .

Landmark: the critical aspects of a fund restructuring

GP-led deals are on the rise. How does this growth compare with historical levels, and what do these liquidity solutions look like from a secondaries investor’s standpoint? Landmark Partners’ Jamie Sunday and Ian Charles explain.

North American public pensions: reluctant leaders

Large North American public pension plans may be fuelling one part of the secondaries market, while pouring cold water on another.

Deals that dance to a different beat

A GP-led deal in the music royalties space shows how adventurous secondaries investors are getting and how readily existing deal types can be applied to new asset classes.
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Ardian’s $18bn secondaries mega-fund highlights the shifting GP-LP relationship

The desire of private equity firms to hold assets for longer is creating misalignment with their LPs – and conditions for the secondaries market to thrive.

‘Complex and conflict riddled’, but not all bad

Concerns from a sophisticated institutional investor should be heeded… to a point.
oil pump

The perils of trying to strike oil

News has emerged of an energy GP-led deal that could be worth $5bn; such deals are full of pitfalls.

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