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Higher public exposure and limited upside in tail-end fund stakes will drive pricing further apart for good- and poor-quality assets, according to a new report.
Volatility in global equity and commodity markets helped push average pricing down in the second half of last year, according to the advisory unit's outlook for 2016.
Real estate secondaries bids rose by 4% year on year, according to the advisory firm's 2016 Secondary Private Equity Valuation and Trends Report.
Good deals at a discount have been becoming harder to find in Europe for a while now, so what are GPs doing if they’re not playing the discount game?
Buyers in Europe are turning to markets such as Ukraine and Russia to find attractive discounts on secondaries stakes, according to Christian Böhler, the secondaries principal at Akina.
The average pricing for secondaries transactions fell but some strategies, including tail-end funds, fared better.
Growing competition for underlying assets are the biggest challenge for primary GPs but will create future opportunities for secondaries, according to Investec's GP Trends 2015 report.
The acquisition was part of a large sale from insurance company Nationwide, which was rebalancing its private equity portfolio.
While most traditional secondaries market participants scoff at electronic exchanges’ impact on their strategies, some are engaging with them on behalf of their portfolio companies.
NEPC’s Q3 2015 poll shows that in response to high valuations and restricted access to top quartile managers, these investors are looking into co-investing.
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