Performance

Even amid today’s rocky macro environment, the industry’s biggest fundraisers continue to pull in more capital.

Experts from Greenhill, NewQuest and LGT Capital Partners discuss what’s driving secondaries dealflow in Asia-Pacific this year.

Buyers are showing greater manager selectivity but are willing to pay for quality, a Palico spokesperson said.

Private equity performance has held relatively steady compared with the pain in the public markets so far this year. That may start changing over the new few weeks.

While initial secondaries volume estimates point to a record first half, expectations for full-year 2022 may have to be revised downward.

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

The firm has seen several examples of transactions that it previously passed on being relaunched with refreshed pricing.

Many public institutions in the US are exploring portfolio sales thanks to a confluence of factors that has left them at, or above, their private equity allocations.

The booming secondaries market is reflected in this year's survey, with several respondents closing on twice the deal volume recorded in pandemic-hit 2020.

The transaction involves the asset manager and other institutional investors acquiring a structured minority interest in a portfolio of assets as part of the UBS-advised deal.