GP-Leds

Almost 80% of investors believe they made the right decisions in fund restructurings, research by the secondaries firm has found.

The firm now has $547m to deploy for its strategic secondaries fund, which targets GP-led transactions.

In the first part of our series on GP-led restructurings, KWM's Gabriel Boghossian laid out what should happen at the beginning of the process. Now he takes us through the stages immediately before a deal.

Gabriel Boghossian, who leads secondaries at King and Wood Mallesons, discusses what full disclosure in GP-led deals means and what to watch out for when testing the market.

Recent SEC focus on fund restructuring has put pressure on GPs to make sure their limited partners get fair treatment during the process. Molly Diggins, general counsel for advisory firm Monument, who says LPs should make themselves heard and ask for greater transparency.

The credit specialist has hired a former PineBridge Investments secondaries specialist as it launches a fund restructuring business that also offers preferred equity.

An overwhelming majority of investors in the Swiss firm's sole fund have agreed to sell their stakes to the bank's private equity unit, Secondaries Investor has learned.

Discounts could also widen for European funds amid volatility related to Brexit, according to a mid-year report by the advisory firm obtained exclusively by Secondaries Investor.

The banking group's Five Arrows Secondary Opportunities unit has also hired three staff this year including a secondaries executive from BEX Capital.

The SEC's allegations involve the private equity firm's 2006-vintage Fund XI which it attempted to restructure in the first half of the year.