Research & Data

London's Graphite Capital retained second place, while French manager Astorg Partners jumped to third place from thirteenth, compared with a year earlier.

Fewer limited partnership agreements contain right of first refusal clauses, which is a good thing for the secondaries market, according to a law firm.

Secondaries funds had on average more undeployed capital as a percentage of capitalisation than any other strategy for vintage years 2007 to 2015, according to a TorreyCove report.

Over $44 billion of real estate assets will come to maturity in Asia in the next five years, fueling strong secondary deal flow, according to a Partners Group report.

The use of intermediaries is expected to continue to rise as new agents enter the market and the buyer universe grows, according to a report by Setter Capital.

Stapled deals, such as Palamon's recent transaction involving three of its funds, increased during H1 2015, according to a report by Setter Capital.

The use of debt is allowing buyers to remain competitive when bidding on large fund stakes, and this has driven up pricing, according to latest research by Setter Capital.

While average pricing remains stable, the split in pricing between high-quality funds and lower-quality funds is becoming larger.

The average net IRR for secondaries funds in the first quarter was down but long-term returns remain flat.

Sentiment in the secondaries market could turn sour in the fourth quarter, so NYPPEX recommends buyers adopt a more hands-on approach to maintain returns.