Pricing

Secondaries buyers and sellers seek more transparency and independence in valuation reporting.

The firm believes it exceeded the estimated industry average discount by 600 basis points.

Pension funds in Europe started investing in private equity later than their US counterparts and don't yet have a strong need for portfolio management.

Jeremy Coller also expects transaction volume to be increasingly fuelled by more complex transactions such as GP-led restructurings, according to comments in a UK filing.

The use of intermediaries, coupled with high valuations in the primary market, have contributed to high pricing for infrastructure secondaries stakes.

Another slump in oil prices and a rise in primary deals is leading some to believe that energy secondaries activity could pick up early next year.

Partners Group anticipates secondaries pricing will remain elevated in private equity while it sees attractive opportunities in real estate, according to a new report.

While average pricing remains stable, the split in pricing between high-quality funds and lower-quality funds is becoming larger.

The Seattle-based firm noted in its Private Equity Outlook that a general increase in primary private equity investments at high valuations, followed by a market correction, could provide a favourable future entry point.

Transaction volume of real estate secondaries could more than double in 2015 compared to last year, according to Greenhill Cogent’s semi-annual secondary market study released on Wednesday.