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Highest secondaries bids cap at 102% NAV

The highest prices for LP interests ranged from 100 percent to 102 percent net asset value during the first quarter, according to NYPPEX.

The highest bids for limited partnership interests ranged from 100 percent to 102 percent of net asset value during the first quarter, according to data from NYPPEX Private Markets.

The range of bids represents a decline from the fourth quarter of 2014, when bids were between 102 percent and 105 percent NAV.

NYPPEX expects prices to remain stable through the second quarter of 2015, “provided that Greek fiscal issues are solved, China’s stock market stabilises and that there are no corrections in the US and European stock markets”, NYPPEX chief executive officer Laurence Allen wrote in an email to Secondaries Investor.

Private equity advisor Triago, however, said in a pricing report that the average price for LP interests was 96 percent NAV during the first quarter of 2015. Triago said pricing had increased from an average of 94 percent NAV in 2014.