In this second episode of the Decade of Secondaries Investing miniseries, Blackstone's Verdun Perry and Evercore's Nigel Dawn look at how the continuation fund market has evolved over the last decade and how it may evolve in the years to come.
The mid-market specialist is seeking €1.5bn for Unigestion Secondary VI, according to Secondaries Investor data.
$1trn in annual deal volume is achievable with upticks in secondaries trading in non-PE asset classes, NAV lending, preferred equity and GP stakes, according to Whitehorse Liquidity Partners' founder.
Secondaries advisory has become a desired function at investment banks, and many smaller, mid-market focused financial institutions brought on secondaries talent in recent years.
Three of PEI’s Women of Influence – Morningside's Tori Buffery, KKR's Saleena Goel and LGT's Martha Heitmann – share their outlook on the GP-led secondaries market.
The firm has appointed Michael Hu, a former managing director at Ardian, to lead its regional investment and business development activities from its new office in Singapore.
Riccardo Villa will advise firms accessing capital at both the portfolio and corporate level.
Rothschild advised on €2bn of GP-led deal volume last year, including infrastructure continuation fund deals for Ancala Partners and DWS.
The bank has tapped three advisory professionals to join its team under former Eaton Partners exec Stefano Manna.
The hires come as secondaries advisory groups shift and expand, with some places growing their capabilities to meet increasing demand for transactions such as continuation funds and LP portfolio sales.