GP-Leds

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.

The vast majority of deals from Israel Secondary Fund III, which is more than triple the size of its predecessor, are expected to be direct secondaries and GP-leds.