Deals

Find out who’s buying, who’s selling and what is being sold. Get detailed information on the structures involved in secondaries deals, including LP portfolio sales, GP-led processes, spin-outs, restructurings and stapled deals.

Long term investing or savings

Ardian marks record year for secondaries deployment

The firm invested $16.8bn across 27 secondaries deals last year, more than 4.4x the amount it invested the prior year.

Alignment Special: When the price is right

Finding the pricing sweet spot to satisfy sponsors, buyers and LPs is tougher than ever in today’s market.
broadband

Pantheon, Abrdn make rural broadband bet

Buy-and-build specialist Stone-Goff has closed a single-asset process on John Staurulakis, a provider of broadband services.
germany

AlpInvest leads group in backing €750m German continuation fund

The transaction involves two assets managed by Deutsche Private Equity and is a first for the Munich-based GP.

Alignment Special: How to find equilibrium through terms

Some sponsors are still able to drive aggressive terms in GP-led deals, though perhaps not for much longer.
norway

Ardian leads €730m Nordics GP-led

The GP-led deal by Norvestor Equity comes during a slowdown caused by a stubborn gap between the pricing expectations of buyers and sellers.

Secondaries pricing for buyouts in first half hovers near 2020 low

Secondary pricing for buyout funds as a percentage of NAV fell from 97% for full-year 2021 to 88% in the first half, according to Greenhill.

ICG leads Marlin Equity’s single-asset process on Medius

The deal was to be priced off the sale of a minority stake software business Medius to Advent but was negotiated down in line with falling public markets.
HKVCA China Private Equity Summit secondaries panel

Why RMB-USD restructurings are becoming more sector-specific

TR Capital's Colin Sau told delegates at Wednesday's HKVCA China Private Equity Summit that GPs are favouring domestic liquidity routes for certain industries.
UK HNWI investment private equity

Vast majority of LPs opt to sell in H1 continuation fund deals

A combination of record deployment by PE managers and slower exit activity is creating a need for liquidity among LPs, according to Lazard.
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