GP-Leds

The investment bank has hired an executive director and vice-president, both based in London, Secondaries Investor has learned.

Single-asset continuation funds continue to deliver a higher average TVPI compared with multi-asset vehicles, according to a report from Evercore and HEC Paris.

Montagu Private Equity's latest CV is one of the largest single-asset deals to come out of Europe this year as GP-led secondaries activity continues in earnest in the region.

While some investors recognise the benefits of evergreen funds participating in GP-led deals, others view the space as a ‘wild west’ that requires greater discipline.

Some GPs view continuation vehicles as 'temporary measures', according to the financial services firm.

The fundraise is the private credit and real asset manager's first private equity secondaries endeavour.

SQ Capital was the lead buyer of the $160m CV for portfolio company TeamDynamix, understood to have been run in an off-market deal with no bankers involved.

Q3 saw $60bn of secondaries volume with just over half made up of GP-led deals, according to estimates from the investment bank.

Secondaries Investor launches its inaugural Global Market Survey to map the market, its drivers and the changing nature of the asset class.

While '40 Act funds haven't yet moved market pricing in GP-led deals, these evergreen funds are 'certainly are participating and creating syndicate demand', Baird's GP solutions group co-head Jeremy Duksin tells Secondaries Investor.