GP-led secondaries begin to gain track record with returns beyond 2x – PJT
Traditional LPs contemplating GP-led focused funds have been intent on identifying examples of fully crystallised continuation funds in recent years.
PGGM runs large secondary on its private equity portfolio as LP sales dominate
Pricing for secondaries has improved to a net-asset-value level of around 90% for buyout funds.
Neuberger Berman steps up as lead on GenNx360 single-asset process for PAG
The single-asset deal is among a slew of mid-market transactions that are keeping secondaries buyers busy, despite a slowdown earlier in the year on the GP-led side.
Schroders taps 40% discounts on China’s RMB secondaries
A mismatch between the supply of potential deals and the number of institutional buyers has given Schroders significant 'bargaining power', says Jun Qian, the firm's head of China PE.
TDR mulls strip sale on multiple vehicles
The buyout firm and owner of UK supermarket chain Asda has mandated Rede Partners to explore a process on its third and fourth flagship funds.
AlpInvest takes lead role in large Leonard Green multi-asset deal
The rationale for the deal is to provide liquidity to investors in older funds while still holding the assets.
UC Regents runs $1.2bn LP sale of infra fund stakes
The sale is being run in steps, with the first round of about $500m recently closed.
Excellere runs two-asset GP-led on AIS Healthcare, LucidHealth
GP-led deal activity has slowed in the market downturn as buyers look for mostly high-quality assets and continue to seek diversity through LP portfolio sales.
ICG emerges as buyer on New Mountain’s $1bn-plus continuation fund
New Mountain is running the single-asset process for medical data-focused Datavant, which it acquired through a merger with its portfolio company Ciox Health in 2021.
Cinven seeks continuation fund deal for Dutch life sciences distributor
The firm had considered running a process on the same portfolio company at the end of last year, Secondaries Investor has learned.
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