A clear rationale and early engagement with LPs can help overcome the complexities involved in GP-leds, say Akin Gump Strauss Hauer & Feld partners Aleks Bakic, Fadi Samman and Daniel Quinn.
The traditional 10-year fund life hasn't changed but GPs want to hold assets for longer. That's where secondaries come in, says the firm's Barry Miller.
There is an art to managing the contrasting cashflow profiles of traditional LP and GP-led secondaries, says Charles Smith, chief investment officer and managing partner at secondaries firm Glendower Capital.
GPs are no longer spectators in secondaries transactions, which provides opportunities for investors, says Christiaan van der Kam, head of secondaries at the firm.
The deals are increasingly seen as an alternative to exit and will drive activity in Asia-Pacific say Greenhill’s Briac Houtteville and Lloyd Bradbury.
A positive selection bias, deep due diligence and strong alignment make GP-led secondaries an attractive proposition, write managing directors Brian Mooney and Stephen Sloan in this sponsored Q&A.
The appetite for recapitalisations of small numbers of high-performing assets is adding opportunities (and challenges) to the GP-led market, say Travers Smith partner Sam Kay and senior associate Ed Ford.
More understanding of the benefits of the strategy among GPs and LPs may drive continued expansion, say Ben Perl, Ethan Falkove and Peter Bock in this sponsored Q&A.
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.
Simon Bachleda, manging partner of Revelstoke Capital Partners, talks to Secondaries Investor about why the firm has tapped secondaries capital on more than one occasion.
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