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One-third of respondents to Secondaries Investor‘s latest survey of intermediaries say they worked with another adviser on a transaction during the reporting period.
More transactions are using a delayed payment structure in a bid to bridge mismatches in pricing expectations.
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The firm is seeking $500m for a dedicated GP-led vehicle which has the potential to deliver enhanced returns.
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Secondaries Investor reported in May that CVC Secondary Partners and Pantheon were leading the transaction around TIC asset Normec.
Rolls of dollar bills making up the shape of a brain
The sponsor-initiated secondaries market will hit a stumbling block if incumbent LPs’ needs and wishes aren’t prioritised over those of incoming ones.
Diversis, formed in 2013, acquired a majority stake in Tempo in 2018, and bought the rest of the company in 2022.
Sam Chung NPS
The country’s largest public pension will pursue both private equity and private credit continuation fund opportunities, according to investment policy committee member Sam Y Chung.
Growth equity assets are seeing ‘pretty good’ bargains, yet the mismatch in valuation expectations may hinder dealmaking.
Animated image of a person holding a giant gold coin, from Getty Images.
A quick exit out of a continuation fund can also raise questions about whether a GP knew about a potential exit even while pursuing the continuation fund, or if the offer came out of the blue.
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Secondaries investors in the $1.1bn continuation fund also committed to the firm's latest fund in market, which closed on more than $2.3bn.

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