PODCAST: How to avoid pitfalls in stapled deals

Blue chip managers are using stapled secondaries deals to boost fundraising and provide liquidity to LPs. In this 17-minute podcast, lawyers from Proskauer, Debevoise & Plimpton and MJ Hudson discuss how GPs and LPs should approach this growing transaction type.

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How should GPs and LPs approach stapled secondaries deals? This was the question broached by Secondaries Investor during a recent sit-down with three legal experts: Kate Simpson of Proskauer, John Rife of Debevoise & Plimpton and Saloni Joshi of MJ Hudson.

The trajectory of stapled secondaries deals mirrors that of the secondaries market as a whole. In less than a decade, these transactions have gone from being “the refuge of the stressed and distressed”, in Simpson’s words, to a tool employed by blue-chip managers such as BC Partners and Providence Equity Partners.

In this 17-minute podcast, the panel discusses how stapled deals have come back into fashion, the dos and don’ts of getting a fairness opinion and how scrutiny from the Securities and Exchange Commission has affected the way that deals are done.