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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Getting full credit from debt fund GP-led secondaries

Houlihan Lokey’s Jeff Hammer and Paul Sanabria discuss the benefits of undertaking GP-led secondaries in private debt.
risk, dominoes

The hidden risk in the secondaries market

Buyers are used to dealing with currency or concentration risk, but information asymmetry is trickier to price.
Abe Finkelstein

We just closed our new fund and already an investor wants out?

The little known ‘low-funded secondary’ can help GPs in the short and long term, writes Vintage's Abe Finkelstein (pictured).
bamboo forest

Good ESG hygiene is the key to a smooth sale

Note to sellers: A portfolio containing managers with robust ESG policies is a more enticing proposition.

How LGT applies ESG filters to secondaries deals

Partner Martha Heitmann discusses ESG-driven secondaries sales and what to do if a portfolio sets off alarms.

Mid-year reflections: Massive volumes and single-asset deals

Three years ago the thought of a $100bn secondaries market was met with a chuckle; today it looks more likely than not.

Five questions with Adams Street’s secondaries partners

Jeff Akers and Pinal Nicum of Adams Street Partners discuss their latest fundraise, the rise of SMAs and the limitations of relying on leverage to generate returns.
Sunaina Sinha

How buyers use matrix pricing to mitigate ROFR clauses

Right of First Refusal clauses can mean buyers face hurdles on certain fund stakes when bidding on a portfolio. Sunaina Sinha, founder of Cebile Capital, talks to Secondaries Investor about how buyers use pricing allocation to ensure they acquire whole portfolios.

The market that’s quietly proving sceptics wrong

Key takeaways from our podcast this week with 17Capital’s Augustin Duhamel on the state and future of preferred equity.
Melissa Ackermann

Five questions with Multiplicity’s Ackermann

Melissa Ackermann, who joined investment firm Multiplicity Partners in June, discusses the opportunities in out-of-favour real estate secondaries deals.
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