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Neuberger closes Bain credit fund restructurings

A few dozen positions held in the 2005- and 2007-vintage Sankaty Credit Opportunities Funds II and III were moved into a separate vehicle in a deal that closed in early June.

Bridgepoint explores restructuring of €4.8bn flagship fund – exclusive

The potential process is the latest in a string of blue chip GPs exploring secondaries processes on their funds.

Coller survey: Alignment is LPs’ biggest concern in GP-leds

Misaligned incentives, a lack of information and tight timeframes are the chief concerns of LPs, a majority of which have encountered a GP-led process.

Warburg Pincus explores single-asset deal on Allied Universal – exclusive

Allied Universal, the largest security force in North America, was valued at $7bn and could be moved into a separate vehicle backed by secondaries capital.

Thomas H Lee Fund VI LPs voting on whether to sell or roll

The total deal is valued at just under $800m and the voting period ends this week.

Mid Europa mulls GP-led on crisis-era fund – exclusive

The CEE-focused buyout firm, which is seeking €800m for its fifth flagship, is considering restructuring options for its 2007-vintage fund.
Zombie

The zombie investments have risen in private debt

While many credit funds wrap up cleanly, a lot don’t, and lenders are left to navigate how to deal with leftover loans and investor commitments.

How to handle divergent interests in GP-leds

LPs can find the options are limited when a fund manager restructures the leftover assets in a fund nearing the end of its life.

Lexington lined up to back Vitruvian GP-led – exclusive

The secondaries firm is in pole position to back a GP-led process on Vitruvian Partners' 2007-vintage fund, which has around €850m in remaining NAV.

Secondaries roundtable: innovation and evolution

In part 2 of sister title Private Equity International's secondaries roundtable, participants discuss fundless sponsor restructurings, single asset deals and how to find the upside of a market downturn.
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