Coronavirus

The real estate direct secondaries firm has already invested one third of Fund VII’s capital since its launch.

The virus outbreak, which has hammered the broader economy for several weeks as business activity slows, is causing sellers to delay bringing secondary deals to market.

Individual portfolio companies may now need an injection of capital via secondaries processes, say lawyers from the legal firm.

Secondaries dealmaking is particularly vulnerable due to the way portfolios are priced and the global nature of underlying portfolios.

In Asia, which holds a lot of promise for secondaries investors, hopes of increased deal volumes face an uphill battle.