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Two timing issues that can kill a deal

Impending NAV updates and carried interest catch-up can make or break a transaction.

Ardian offloads $700m portfolio to Strategic Partners – exclusive

Stakes offloaded so far include tail-end interests in Carlyle, Lyceum Capital and Rutland Partners-managed vehicles, Secondaries Investor has learned.

Kline Hill’s debut fund 50% invested

The fund's purchases include stakes in two Akina Partners funds acquired with secondaries firm Newbury Partners.

Segulah pulls Fund IV restructuring

The Swedish mid-market firm has cancelled the secondaries process on its 2007-vintage fund due to several potential liquidity events, including an offer by a strategic buyer for one of the assets.

Ardian to offload at least $1bn in secondaries stakes

The sale includes stakes held in its 2006-vintage AXA Secondary Fund IV, Secondaries Investor has learned.

Strategic Partners picks up stakes from Invesco

The stakes included a position in Bridgepoint Europe II, which has one remaining majority-owned asset.

Royal Mail legacy sale attracts first bids – exclusive

The $600m portfolio comprises two mandates from Pantheon and Pathway Capital Management, Secondaries Investor has learned.

LGT leads syndicate in Baring Vostok restructuring – exclusive

Limited partners in the Russian private equity firm's 2000-vintage fund will decide by early September if they want to sell their stakes, Secondaries Investor has learned.

LGT buys tail-end stake from Pantheon and Diageo

Sales of stakes in tail-ends – mature funds which often hold a handful of portfolio companies – are expected to increase as a percentage of the secondaries market this year.

Lexington sells tail-end European portfolio to Willowridge

The purchase included stakes in at least seven private equity funds managed by some of Europe's top firms including 3i, IK Investment Partners and Cinven.

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