Legal

The deal totalled somewhere in the range of $2bn to $2.5bn, making it one of the largest deals of the year.

Sponsors or GP-led secondaries processes should take care in the language they use to explain why they want to hold an asset for longer, writes Thiha Tun, a partner at Dechert.

The deal is among a handful of GP-led secondaries processes that have moved through the market, which has become more challenging because of pricing uncertainty.

Trying to standardise terms in a fast evolving industry is a complicated and worthy endeavour.

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From lenders’ due diligence basics to new processes resulting from increased caution among some lenders, we outline what you should expect when taking out a NAV loan.

Law firms saw a huge increase in secondaries work during the period under review, with GP-led deals cementing their place as the most popular transaction.

Real estate could be the perfect asset class for GP-led secondaries, despite key legal and tax issues, says Steven Cowins, co-chair of Greenberg Traurig’s real estate fund practice.

This is the law firm's second hire to partner this year in its investment funds group after that of Aleksander Bakic from Akin Gump.

With their multiple benefits for both the GP and LP, management-led secondaries are rapidly gathering steam in real estate.