News & Analysis

Sponsors and management teams need to demonstrate their commitment to the next phase of growth.

A panel of LPs at PEI's NEXUS 2024 summit discussed trends and themes in private equity, including the use of secondaries to rebalance portfolios.

A collaborative approach is key to helping de-risk transactions and develop long-term relationships.

Early engagement and regular communication with LPs are vital to avoiding roadblocks in the GP-led secondaries process.

Continuation vehicles across different geography, size and industry of underlying assets have generated similar return multiples.

Muted M&A activity and liquidity demands are prompting more sponsors to consider moving assets into continuation funds, but successfully completing a GP-led deal is more easily said than done.

Appointing an internal team to oversee a GP-led deal, and working with advisory and legal partners early, can help smooth what can be a time- and resource-intensive process.

As supply continues to outstrip demand, it is ever more important to clearly demonstrate why particular assets are well suited to a continuation fund process.

Permira is moving five assets into a continuation fund including US customer experience solutions provider Genesys, which was previously part of a continuation fund transaction in 2020.

Heightened supply and the climbing cost of credit mean the pricing for infrastructure secondaries is increasingly attractive for buyers.