Research & Data

One-quarter of all 2013 transaction payments deferred

Report from global advisory firm Evercore puts deferred payment arrangements on a quarter of all transactions last year.

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A quarter of all transactions in 2013 featured deferred payments, some $8.67 billion, according to global advisory firm Evercore in its market report.

Evercore interviewed 70 market participants excluding sovereign wealth funds, including what it termed “traditional” secondaries buyers as well as a number of primary investors investing in secondaries transactions on an opportunistic basis.

Evercore found the total market volume sitting at $26 billion, making a quarter of all payments, $8.67 billion, deferred from the date of sale.

In July 2013, New York-based Evercore Partners set up a secondaries business with the recruitment of two ex-UBS secondaries specialists, Nigel Dawn and Nicolas Lanel, Private Equity International reported at the time.

In March this year, Secondaries Investor reported that Evercore were at the centre of a deal that saw Ardian pick up a $ 1 billion portfolio of 350 fund assets from US heavyweight GE. Evercore was founded in 1996 and manages more than $13 billion in assets, according to a statement.