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Flood, Michael NORTHLEAF
Northleaf Capital Partners ranked 21st in the latest SI 30, having raised $2.38bn between January 2014 and June 2019. We caught up with managing director Michael Flood to discuss the firm’s recent $1bn raise and competition in the mid-market.
AlpInvest Partners’ Wouter Moerel and Chris Perriello, managing directors and co-heads of the firm’s secondaries investment team, discuss growth in the secondaries market, why they don’t use leverage and what a worst-case scenario could look like.
Partner Martha Heitmann discusses ESG-driven secondaries sales and what to do if a portfolio sets off alarms.
On the heels of ILPA’s recent best practices on GP-led secondaries, BRG’s Finbarr O’Connor and Gavin Farrell take a practical look at issues important to LPs, and how GPs can address the guidance as they formulate transactions.
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
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’.
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.  
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.
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.
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.
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