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.

Apogem and Headlands among investors on Timber Bay Partners-led deal

New equity and debt capital was raised on a GP-led structured secondaries deal for RFE Investment Partners’ asset ZRG in an Atlantic-Pacific Capital-advised deal.
photos of gas pipes

Infra manager ArcLight closes second continuation fund

The mid-market sustainable infrastructure investor's process around midstream infrastructure group Third Coast began with a first close on the CV in July.
Pair of red skis crossed and wedged in snow on mountain

GIC emerges as investor in KSL’s Alterra single-asset process

The deal is one of the higher profile GP-led secondaries to emerge from the slowdown in activity in the second half of 2022.
buy and sell dice rolling around

As capital calls outpace distributions, LP secondaries take center stage: Jefferies

Market professionals anticipate 2023 will be a record year as pent-up demand bursts through pricing hesitation and stored-up dry powder is unleashed.

Second-biggest year on record for secondaries market with $103bn in volume – Evercore

The majority of volume last year was for LP-led transactions, according to the investment bank’s 2022 Secondary Market Synopsis, shared with Secondaries Investor.
HKVCA secondaries panel (L-R) Joe Ma, AlpInvest Partners; Jolie Chow, PJT Partners; James Ford, Allen & Overy; Colin Sau, TR Capital; Bonnie Lo, NewQuest Capital Partners

Secondaries players spy opportunity in China reopening

Speaking at the HKVCA’s annual forum, Colin Sau, managing partner of TR Capital, said the firm is increasing its focus on China in 2023 after a slowdown in recent years.
Europe Texas investment

Impact manager Summa working with UBS on single-asset continuation fund

Summa Equity is looking to move Norwegian biowaste company Norsk Gjenvinning from its debut fund to a separate vehicle.
Wheat field, Ukraine

Harvest tender offer closes with what some see as tepid LP sales

The Harvest process allowed LPs in the firm’s seventh and eighth funds to sell their stakes at relatively high prices compared to other recent deals.

TR Capital leads on $150m India multi-asset continuation fund

Other buyers including Axiom Asia, StepStone Group and Unigestion participated in the continuation fund that will house three companies.
image of eye and telescope

Looking back: 5 deals that caught our eye in 2022

A massive LP sale, an energy-focused single-asset deal and an Asian continuation fund were among transactions that stood out during the year.
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