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As the secondaries market continues to drive change in the world of private capital, there are lessons to be learned, according to panellists at the BVCA’s annual conference.
The lower- and mid-market-focused firm had hired Greenhill Cogent to work on a tender offer process on its 2009-vintage fund, Secondaries Investor has learned.
The firm is putting together a 10-strong secondaries team, split between London and New York, to focus on vanilla deals as well as more complex processes.
The vehicle is closing on up to €6.7bn target on the back of a stapled deal with Lexington Partners over the summer.
Ardian had a 50% interest-free deferment on the purchase price, to be repaid on 31 December.
The success or failure of two significant GP-led processes will have widespread consequences for the secondaries market.
We take a closer look at the Nordic firm's recent deal and the vogue for stapled transactions.
The deal involves stakes in the Swedish firm's 2011-vintage buyout fund and a commitment to its latest Asia-focused vehicle.
The deal involves the London firm's latest buyout fund which was part-raised by a 2015 stapled deal involving a group of buyers led by Goldman Sachs.
Twenty-two LPs sold stakes to the secondaries house, which has made a staple commitment to BC Partners’ latest fund worth around 30% of the total.