Performance

A report by the investment bank and the HEC School of Management in Paris has reaffirmed findings that continuation funds perform largely in line with buyout funds with less risk.

Presenting: the buyer-led secondaries deal.

The median MOIC for continuation funds slightly outperforms that of buyouts, in line with findings presented early last year including a larger data set, according to a report.

The top secondaries deals, firms, law firms and advisers of the year from the APAC region.

Glouston Private Equity Opportunities VII closed on $558m, making it the firm's largest vehicle to date.

While continuation funds are increasingly common liquidity solutions, not all of them are delivering the appropriate returns, according to Cari Lodge, head of secondaries at Commonfund.

The firm launched what could be its largest-ever secondaries fund in October.

A study by the bank and the HEC School of Management has also reinforced earlier findings that single-asset CVs perform largely in line with buyout funds, while offering lower return dispersion.

LGT Capital Partners' Crown Global Secondaries VI exceeded its $6bn target, as well as the size of its predecessor, which closed on $4.5bn in 2021.

Details of how the firm's secondaries funds have performed have been disclosed in documents prepared for a US public pension.