private debt secondaries

Of the sellers, 12% said they had tapped the secondaries market to offload private credit fund interests more than once.

The alternatives manager has already raised more than $1bn of capital to invest in senior debt secondaries through two May fund closes.

The placement agent has formally launched a secondaries advisory business focused on credit and infrastructure, having soft launched two years ago.

Pantheon estimated that global private credit secondaries dealflow reached $18.4bn in 2021, having barely registered only a few years ago.

Recent events bode well for credit secondaries – a small and rapidly growing part of the overall secondaries asset class.

Jake Elmhirst was a managing director and founding member of the Private Funds group at UBS, which he left last year after 25 years.

Argosy Strategic Partners, the firm's secondaries unit, exceeded its fundraising target in just five months since its first close.

There is a universe of potential deals in asset classes such as infrastructure not suited to typical secondaries funds, says Daniel Roddick, founder of Ely Place Partners.

Despite Coller Capital raising a record-breaking fund for the strategy, LP sentiment for credit secondaries does not appear to be as supportive as one might think.

Coller Credit Opportunities I came to market in May, targeting $750m, and is managed by partners Michael Schad, Ed Goldstein and Martins Marnauza.