GP-Leds

The deal is one of only a few that have proceeded through the pandemic downturn, which otherwise has stopped most secondaries deal activity.

The conventional wisdom that M&A or IPO are the only two paths to liquidity for a business may no longer hold true, write Todd Miller and Katie Stitch of W Capital Partners.

Vertex Holdings is offering liquidity options on multiple funds in a deal that could be worth as much as $500m.

Mill Reef Capital has made five appointments since its founding last year by ex-Schroder Adveq secondaries head Nico Taverna and Gregor Hasler of LGT Capital Partners.

2020 was set to be a good year for exits in LatAm, and covid-19 is forcing GPs to consider other options, according to Brazil's Spectra Investments.

The line between co-investing and secondaries has become increasingly blurred as buyers show more appetite for single-asset deals.

HSE24 is owned by Providence Equity Partners, which hired Evercore to explore a GP-led process at the start of this year.

Yaron Zafir will take a senior role at the placement agent and advisory firm, bringing its number of secondaries advisory professionals to 10.

The deal gave liquidity to 40,000 retail investors who averaged a 3x return on invest, Secondaries Investor has learned.

The process is one of the few fund restructurings of size to proceed through the coronavirus downturn.