In our latest episode of Spotlight, we sit down virtually with Hamilton Lane chief executive Mario Giannini who discusses, among other topics, challenges for single-asset secondaries processes during the coronavirus crisis and why secondaries will be at the forefront of the private equity market’s evolution.
“I think the secondaries market is where you’re going to see big changes in private equity,” Giannini said. “It’s going to almost become like a co-investment market with GP-led secondaries. The LP-led deals will continue where you’re selling your normal LP interests.”
In this in-depth conversation, Giannini also explains why the financial aspect of the current crisis is playing out differently from the 2008 Global Financial Crisis and the “dot-com” crisis of the early 2000s, and how that’s affecting the way private markets are behaving. He also shares insights on how limited partners are thinking about portfolio construction, why a pandemic is the perfect time to address issues of inequality, and how investors should read a buoyant public market.