Recent activity suggests buyers may be purposefully baking in more headroom as macroeconomic and market conditions remain challenging, according to data from Palico.
Finding the pricing sweet spot to satisfy sponsors, buyers and LPs is tougher than ever in today’s market.
Secondary pricing for buyout funds as a percentage of NAV fell from 97% for full-year 2021 to 88% in the first half, according to Greenhill.
Secondaries Investor caught up with Adrian Millan from PJT Partners to discuss a market that's becoming increasingly relevant to liquidity-squeezed LPs.
Public pensions drove the LP-led market in H1, as allocation pressures led them to sell despite worsening price dislocation, Campbell Lutyens found.
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.
A market downturn, diverging views on valuations and ‘risk off’ attitudes are causing many GP-led deals to be repriced.
The booming secondaries market for growth assets is on pause, although deals can still happen if sponsors offer a discount.
Oliver Gardey and Ryan Levitt discuss market volatility, the need for specialism in secondaries and the likely drivers of LP deals in 2022.