With a rapidly growing market in an increasingly volatile environment, secondaries investors need to creatively focus on the basics, says chief executive Michael Granoff in this sponsored Q&A.
There is growing speculation that secondaries trading could surpass primary fundraising, as it has in the public markets, write Rod James and Amy Carroll.
Secondaries pricing has become uncertain, with inflation, supply chain disruptions, geopolitical turmoil and rising interest rates causing public market volatility since the beginning of the year.
The challenges of selling such a big offering are highlighted by growing uncertainty around secondaries pricing, weakening amid public market volatility, rising inflation and geopolitical shocks from Russia’s invasion of Ukraine.
Portfolios with valuations pegged to 30 September no longer reflect market dynamics, including public market volatility, plunging tech valuations and geopolitical turmoil sparked by Russia’s invasion of Ukraine.