China’s Buhuo completes yuan restructuring as it eyes international capital
Buhuo is the latest Chinese GP using secondaries to raise capital from what is perceived to be a more stable LP base than those at home.
Ardian and New Mountain end $2bn-plus GP-led after Blue Yonder acquisition
With assets live in the market, outside buyers occasionally swoop in and make better offers, upending months of work building consensus on the secondaries deal.
Leonard Green completes one of the largest-ever GP-led secondaries deals
The deal is one of the high-profile secondaries in the market this year helping to push activity volumes that some expect to reach record highs by year-end.
Sponsors accept ‘first dollar loss’ to counter rich GP-led terms
Buyers are proposing fresh ways of ensuring sponsors stay aligned, according to a panel at PEI's Investor Relations, Marketing & Communications Forum.
New Mountain renegotiating $2bn-plus GP-led deal amid Blue Yonder deal chatter
Assets slated for a secondaries deal periodically get snapped up by outside buyers before the deals can close, a risk that increases the longer such deals linger in the market without closing.
Tail-end portfolios rebounding in 2021 – Elm Capital
Activity is driven by secondaries and funds of funds aiming to lock in returns and liquidate old vehicles, according to managing partner Etienne Deshorme.
Montana backs Transamerica VC spin-out
The secondaries firm has gained exposure to a portfolio of around 20 high-growth businesses in the fintech and insurtech sectors.
BC Partners to take chunky stake in Springer Nature deal
The buyout shop is making a €300m investment from its latest fund in the process, which values Springer Nature at about $7bn.
Three things to know about Ares’ acquisition of Landmark
Ares’ roster of sponsor and LP relationships will enable Landmark to enter the credit secondaries market, do deals in Asia and raise larger funds.
Ares joins secondaries game through $1bn Landmark acquisition
The $197bn private credit and private equity giant follows TPG and Brookfield in looking to gain exposure to the rapidly growing secondaries market.
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