Few secondaries firms remain independent after a glut of M&A transactions this year.
The Carlyle Group unit has led a process in the latest example of a sponsor using continuation fund technology for the first time.
GP-led secondaries, especially single-asset deals like Belron, have driven the market to what is expected to be record volume levels this year.
Secondaries buyers may find themselves on the hook for sellers’ liabilities. They should look to protect themselves, says Angus Marshall of CFC Underwriting.
The vehicle will focus on preferred equity, NAV-based lending and have a pocket to make secondaries investments with sub-private-equity return profiles.
The GP with $9.3bn in private equity assets under management is looking at ways to hold on to 'champions' for longer, according to CEO Alex Saigh.
A stake in CD&R's 2018-vintage fund sold for 124% of NAV, according to a survey of 52 transactions by Palico, with average pricing of 98.5%.
The secondaries pioneer's Beijing office opened in March and is led by Hong Kong-based partner and head of Asia Peter Kim.
The above-target close is the culmination of a multi-year rebuilding process at the German asset management giant.
The secondaries giant was expecting a first close on its LCP X flagship in the third quarter of this year, documents seen by Secondaries Investor show.
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