GP-Leds

Latham & Watkins has hired a Kirkland & Ellis partner to help boost its secondaries capabilities.

While initial secondaries volume estimates point to a record first half, expectations for full-year 2022 may have to be revised downward.

The departure of Christian Diller comes a year after the Baar-headquartered secondaries buyer was acquired by asset manager PGIM.

Investors have pulled back on deploying capital in 2022, but the long-term trajectory for GP-led transactions is positive, Campbell Lutyens' Gerald Cooper and Immanuel Rubin tell Secondaries Investor.

The deal totalled somewhere in the range of $2bn to $2.5bn, making it one of the largest deals of the year.

The global head of Evercore's private capital advisory group identifies ways to ensure sponsor-initiated transactions work for all parties involved.

The Nuveen subsidiary is building a team to target GP-led deals in the US mid-market, a year after executing its own large secondaries deal.

The firm targets growth assets via GP-led deals, highly concentrated LP stake trades and preferred equity.

The asset manager, which has $170bn in alternatives AUM, is revisiting the strategy having last raised a dedicated secondaries fund in 2016.

Impacts from the broader economy, such as inflation, geopolitical turmoil and slower growth, have made it tougher to value assets in secondaries processes, with a wide gap between buyer and seller expectations.