Pricing

Costs have remained stable in the secondaries market, and using data to price portfolios could make them cheaper, writes RockSling Analytics' Harry Vander Elst.

The top average bid for a buyout fund was close to pre-covid levels at the end of last year, with prices for VC and infra up in year-on-year terms.

The flight towards high-quality assets is ongoing as buyers wait for clarity on the real economic impact of covid-19, according to Jasmin Capital's head of secondaries.

Strong buyer demand is allowing some GPs to drive better terms for themselves on manager-led deals, according to panellists at PEI's Women in Private Equity Forum.

Business that have benefited from the coronavirus crisis are as difficult to value as those that have suffered, says Glendower Capital's CIO at the annual BVCA Summit.

The Canadian pension giant is understood to have sold chunks of the portfolio, worth as much as $2.5bn in total, to separate buyers.

Buyers will value a 'safe pair of hands' over pure return potential until the market stabilises further, according to Elm Capital.

The average high bid for buyout funds surpassed 90% of NAV in the three months to end-August, according to data from the intermediary.

Deal volume will rise as distressed sellers and mainstream sellers adapt to an environment changed by the global pandemic, Jeremy Coller has said.

Buyers being cautious of imminent write-downs in H1 fuelled the lowest pricing since 2012, according to the advisor's latest mid-year report.