Secondaries

Ardian acquired a majority of the portfolio, offloaded to crystalise returns after a fiscal year in which Harvard's PE portfolio returned 77%.

Mike Custar and Jake Stuiver of White Plains-based secondaries advisory M2O discuss the return of the LP market as a counterweight to GP-led deals.

Double-down funds don’t pose an immediate threat to the continuation fund market, but they are a reminder of the need for secondaries funds to justify their fees.

New partners have been created across the law firm's Boston, New York, Hong Kong, Houston and San Francisco offices.

Academic Cyril Demaria and Greenhill's Bernhard Engelien debate the role of secondaries in portfolio construction and what LPs should bear in mind.

Secondaries market participants like Jeremy Coller, Yann Robard and Johanna Lottmann try to forecast how the sector will look in 10 or 20 years' time.

Pioneering Coller is one of the few remaining independent secondaries firms of scale after a frantic year of M&A activity.

Unlike secondaries deals, mid-life co-investments do not require the creation of a new vehicle or resetting fund economics.

The proportion of secondaries transaction volumes to primary capital raised has stayed stubbornly around the 1% mark, as the primary market continues to grow.

Until technology providers can provide the market with sufficiently standardised transaction templates, their solutions will be accretive, not revolutionary.