News & Analysis

GP-led secondaries: 10 key questions answered

Everything you need to know about GP-led secondaries, from pricing and conflicts of interest to third-party valuations and SEC proposals.

-

GP-led secondaries have grown from a single-digit billion-dollar market to around $50 billion over the last 10 years, with sponsors increasingly viewing these deals as a portfolio management tool and LPs more frequently being called upon to make roll or sell decisions. Here are some of the key questions managers and investors should consider in regards to this booming corner of the secondaries market and how such transactions work in practice.