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Verdun Perry, Blackstone
Verdun Perry, the Blackstone secondaries unit's global head, says the size and age of the private credit market means it is 'not ripe' for secondaries.
Pantheon
Rakesh Jain will help lead the firm's expansion in private credit primaries, secondaries, co-investments and special situations.
Tikehau Capital
The investment firm has hired Olga Kosters to lead the launch of its debut debt secondaries vehicle.
Credit and distressed funds accounted for 20% of GP-leds deals in H1, according to data from Greenhill.
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Houlihan Lokey’s Jeff Hammer and Paul Sanabria discuss the benefits of undertaking GP-led secondaries in private debt.
A few dozen positions held in the 2005- and 2007-vintage Sankaty Credit Opportunities Funds II and III were moved into a separate vehicle in a deal that closed in early June.
Zombie
While many credit funds wrap up cleanly, a lot don’t, and lenders are left to navigate how to deal with leftover loans and investor commitments.
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Just over 20% of the fund is already invested in secondaries, according to founder and managing partner Jeremy Golding.
Houlihan Lokey’s Jeff Hammer says that while there is a broad base of potential actors, that loans are repaid over a given period or refinanced likely constrains the size of the market.
Abhik Das will be responsible for primaries, secondaries and co-investment for institutional investment programmes and managed accounts.
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