LP Sales

Even though some return mechanisms secondaries buyers have historically looked to are less attractive in today's market, the OCIO firm is encouraging its clients to participate in the growing secondaries market both as a buyer and to reshape its programmes as a seller.

A distribution desert has led to a surge in first-time LP sellers, while a challenged fundraising market has heralded the return of the primary staple.

Pricing remains the biggest source of friction in secondaries negotiations.

The insurer worked with Evercore to shop a $1.8bn portfolio under the name Project Trident, Secondaries Investor has learned.

This is at least the sixth time the insurance giant has run a secondaries process.

Stonehage Fleming and GreenBear Group want ageing funds wound up quickly to avoid issues such as questions around valuations. The secondaries market is a viable resolution route.

Temasek launched its first collateralised fund obligation in 2006. Two decades on, the technology continues to grab the interest of new and repeat institutions.

The digital LP-led secondaries marketplace, which has facilitated smaller transactions since its founding, is seeking to attract larger sales, founder and CEO Antoine Dréan told Secondaries Investor.

The system's process marks the latest instance it has sought liquidity in the secondaries market.

Private markets comprise around 61% of Abu Dhabi Investment Council's investment portfolio.