Report from global advisory firm Evercore puts deferred payment arrangements on a quarter of all transactions last year.
Four secondaries funds closed on $2.3 billion in Q1, according to PEI data.
The tech sector drew the most direct secondaries last year, according to advisory firm NYPPEX. It expects nearly $20bn in direct secondaries to transact across sectors this year.
NYPPEX estimates that tail-end funds comprised approximately 26 percent, or $6.46 billion, of total secondaries transaction volume in 2013.
The firms top Setter Capital's list of the 50 most sought-after US LBO funds. Providence, Welsh Carson and Kelso round out the 24 funds given an 'excellent' liquidity rating.
The practical problem facing investors is not that there is no way to compare the
returns of illiquid and liquid assets, but that there are too many, Landmark Partners argues in its latest whitepaper.
The global fund of funds’ figures show there are 200 funds over 10 years old with at least $100m of NAV. That's expected to be a key source of dealflow for secondaries investors.
Large auctions and restructurings are expected to provide the bulk of dealflow this year, according to a SecondariesInvestor.com reader’s poll.
Last year, buyers on average paid 95% of NAV for private equities secondaries -- a trend set to continue, says advisory firm Elm Capital.
A comparison of 2013’s H1 and H2 bids show a 10% shift in the second half as well as a wide dispersion of bids per fund, according to a study by Elm Capital.
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