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Renegotiating the LPA: basics

Proskauer's Nigel van Zyl explains the key commercial, legal and investor relationship issues GPs need to consider before amending the agreement's provisions or restructure funds.
Christiaan de Lint

Finding beauty in complexity

Headway Capital Partners’ Christiaan de Lint says his firm, with its knack for direct secondaries, relishes ‘handling deals that other secondaries buyers don’t like’.

The state of the secondaries market

In this extract from The Secondaries Market, Brian Mooney and Jeremy Joersz of Greenhill Cogent examine the changes in the sector over the last 20 years, and look at the types of market participants.  

Three questions with Rede’s Yaron Zafir

Amid the emergence of managers specialising in GP-led deals, advisors are still vital in a complex sector with inherent conflicts of interest, according to Yaron Zafir, head of secondaries at London-based advisory firm Rede Partners.

Sophistication and specialisation in secondaries

While secondaries deals are at their core simply trades, buyers have become more specialised, and advisors too have become more selective about the areas they compete in, according to Sixpoint Partners' Shawn Schestag.

LPs: flex your muscles

Recent SEC focus on fund restructuring has put pressure on GPs to make sure their limited partners get fair treatment during the process. Molly Diggins, general counsel for advisory firm Monument, who says LPs should make themselves heard and ask for greater transparency.

Partners Group on strategy

Adam Howarth, co-head of private equity secondaries at Partners Group, explains how heightened anxiety in the market is impacting activity at the firm and why secondaries returns will become increasingly mixed.

Making GP-led deals work for everyone

Some GP-led deals fail due to a lack of trust, and GPs should be completely transparent about any benefits they receive, according to law firm Proskauer Rose’s Howard Beber and Michael Suppappola.

Securitisation: opening up private equity

The private equity industry and insurance firms in particular can benefit from securitisation, according to Park Hill's Larry Thuet and Pablo Caló.

How fund successions can achieve better pricing for LPs

A model is emerging in the GP-led solutions market that can eliminate conflicts of interest, writes Evoco partner and co-founder Michel Galeazzi.

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