Secondaries

This week Secondaries Investor moderated a panel on the debt secondaries market hosted by sister publication Private Debt Investor. Here is what we learned from the discussion featuring executives from Manulife Investment Management, Tikehau Capital and Pantheon.

The proportion of respondents who are 'not concerned' about liquidity was 81% across the summer, compared with 46% in the spring, according to a survey by the advisory firm.

London-based Rede, which hired a new head of secondaries in January, worked on €867m of deal volume in 2019.

Montana Capital Partners has been investing its €800m Fund IV, which held its final close in 2018.

The firm is in market targeting $1.25bn for its latest flagship secondaries fund.

The average high bid for buyout funds surpassed 90% of NAV in the three months to end-August, according to data from the intermediary.

An apparent flurry of dealflow doesn’t mean they will all get across the line

Daniel Dupont has been co-head of secondaries at the investment firm since 2011.

The two law firms were the first- and second-most active in the secondaries market last year.

Strategies that worked well for buyers during the bull market may no longer work, says the investment firm's head of secondaries Jeff Akers.