A recent Palico white paper found 36% of sellers on its platform this year are high-net-worth individuals, compared with just 11% last year.
The deal is part of a series of large LP sales driven by liquidity concerns, the need to rebalance investment exposures in investment portfolios and strong pricing for high-quality private markets funds.
Nine out of 10 secondaries firms expect to see more capital from wealthy individual investors in their next funds, according to research from Investec.
The €255bn unit of French financial giant BNP Paribas Group wants to sell a bundle of private equity and infrastructure stakes, Secondaries Investor has learned.
The Dutch pension giant had brought a portfolio worth $2bn-$3bn to market, Secondaries Investor reported in June.
The sponsor-initiated secondaries market will hit a stumbling block if incumbent LPs’ needs and wishes aren’t prioritised over those of incoming ones.
While LP sales slowed around spring, activity has picked up and sources expect inventory to increase as the market moves into the third quarter.
As part of the system’s policy established in 2022, the pension has been building exposure to areas of private equity it may have skipped in the past such as smaller funds and growth-focused GPs.
Private equity secondaries will be a $500bn market by 2030, the firm's founder and chief investment officer Jeremy Coller tells Secondaries Investor.
Virginia Retirement System and the State of Wisconsin Investment Board were among the most active LPs making secondaries investments last year.