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LP Sales

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Some LPs are on a three-year waiting list to formally transfer fund interests off their books – an issue that could grow as overallocation issues persist.
Recent activity suggests buyers may be purposefully baking in more headroom as macroeconomic and market conditions remain challenging, according to data from Palico.
British Airways Pensions appointed BlackRock as its outsourced CIO for around £21.5bn of its pension schemes’ assets last year.
Abu Dhabi Investment Authority secondaries
The $649bn SWF was 'proactive in monitoring and managing' its existing portfolio last year, including via the secondaries market, according to its latest annual report.
Garbage fire at night, fire, rubbish, riot, looting
British pensions have been dumping liquid assets to free up cash due to the gilt crisis; whether they’re currently selling private markets holdings for the same reason is another question.
Washington State Investment Board, private equity, pension fund
The situation is an example of the challenges of completing LP portfolio sales in today’s market, with a widening gap between buyer and seller pricing expectations.
new hires
The hiring comes as several mid-market investment banks are acquiring capabilities to advise on secondaries transactions, usually focused on GP-led deals like single-asset continuation funds.
BEX Capital partner promotion
The Nice-headquartered secondaries firm is deploying its fourth fund, which closed above its hard-cap in March.
infrastructure
Macquarie estimates there could be $50bn-$67bn of infrastructure secondaries AUM by 2025, compared with $18.6bn last year.
speed
When it comes to pricing, speed is of the essence for LPs looking to sell portfolios, yet is only one piece of the puzzle.
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