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Secondaries under-performs other strategies over all periods

Returns for secondaries funds rose slightly on a quarterly basis, but the strategy has performed below the All Funds benchmark across all periods, according to data from the Institutional Limited Partners Association.
treasure chest

One man’s treasure: Why LPs are selling less and rolling more

Evercore's half-yearly report highlights a notable decline in the proportion of LPs choosing to sell in GP-led processes. This could be indicative of profound, longer-term changes.
Leith Moghli

Proskauer hires former Kirkland partner

Leith Moghli joins from Reed Smith and focuses on secondaries transactions, fund formation and fund incentive arrangements.
Arc de Triomphe, Paris

Eurazeo used strip sale to seed flagship fund – exclusive

Lexington Partners, Adams Street and StepStone were part of a consortium that acquired five assets off Eurazeo's balance sheet which were used to seed the €700m Eurazeo Capital IV buyout fund.

Greenhill: 2019 volumes on course to exceed $90bn

Secondaries market volume hit $42bn in the first half, a 56% year-on-year increase, including nine deals worth more than $1bn.

Glendower raises one of the largest first-time PE funds

Glendower Capital Secondary Opportunities Fund IV has held a final close on $2.7bn, above its target of $2.5bn, leapfrogging two Chinese GPs to the top spot.

DOWNLOAD: Secondaries fundraising in H1 2019

Fundraising underwhelmed in the first half of 2019 but things are set to change in the second. Find out more with our interactive report showcasing Secondaries Investor data.

CPPIB to back TPG Growth tender offer – exclusive

The Canadian pension giant is in poll position on a deal that will offer liquidity to LPs in the firm's 2011-vintage $2bn Growth II fund.
Allen & Overy's new partner Antoine Sarailler will focus on fund formation across private equity, infrastructure, credit and real estate, as well as primary and secondaries transactions

Allen & Overy appoints secondaries partner

Based in Paris, Antoine Sarailler will focus on fund formation across private equity, infrastructure, credit and real estate, as well as primary and secondaries transactions.
Abe Finkelstein

We just closed our new fund and already an investor wants out?

The little known ‘low-funded secondary’ can help GPs in the short and long term, writes Vintage's Abe Finkelstein (pictured).
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