Partners Group's senior vice-president of private infrastructure, Dmitriy Antropov, discusses the growth of tail-end liquidity solutions in the asset class, in this second part of an extract from The Secondaries Market.
Deal value in the secondaries market dropped slightly last year, but billion-dollar transactions in the pipeline should ensure a better 2017.
The figure from the investment bank's secondaries advisory unit is slightly down year-on-year.
Fund committed $326m in capital during 2016 compared with $629.7m the year before.
Drivers include increasing competition and record high dry powder, according to a report by the Swiss bank obtained by Secondaries Investor.
The London-listed investment company saw investment in the strategy rise from £7m to £17m.
Secondaries buyers are bidding at a 4% difference for the two classes of funds, according to a report by Setter Capital.
The global investment firm's 1991 and 1996-vintage Dover Street funds are its best performing secondaries vehicles, according to a document obtained by Secondaries Investor.
The number of dedicated funds and the aggregate amount of capital they are seeking remains little changed compared with a year ago, according to PEI data.
Kirkland & Ellis worked on the largest amount of deal volume in a year when sponsor-led transactions continued to evolve, Secondaries Investor's annual law firm survey has found.