Secondary funds outperform direct funds in terms of net IRR, according to Capital Dynamics.
Leverage ratios and secondary market volume have little effect on real estate pricing discounts, according to research from Consilia Capital.
GPs in Asia face difficulties in creating value as regional GDP growth slows, which could mean increased opportunities for secondaries firms.
Non-traditional secondaries sellers are becoming an increasingly important source of activity, according to Setter Capital.
The average high bid price for LP fund stakes was 98 percent of NAV during the first half of the year, according to NYPPEX data.
Unrealised value in tail-end funds totals $345bn, which means there's room for further growth in the expanding direct secondaries market, according to NYPPEX.
Buyers need to understand how to mitigate risks such as alignment and asset allocation when acquiring LP fund interests.
The top 100 alternative investment managers now have over $3.3tr in assets under management, according Towers Watson.
Transaction prices rose across all alternative investment strategies during the first half of 2014, with buyout pricing leading the way and reaching 100% of NAV.
Secondaries transaction volume reached $17bn for the first half of the year, making the market very seller-favourable, according to Cogent Partners managing director Todd Miller.