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stapled deals

LGT Capital Partners
The asset manager raised $2.8bn for its previous fund, which was 93% committed as of the end of June 2019.
Denmark
Two Danish pension funds sold their stakes in the 2010- and 2016-vintage vehicles.
The Malaysian private equity firm is giving LPs in its 2013-vintage, $1.3bn Fund VII an exit option, Secondaries Investor has learned.
The transaction involves the US mid-market firm's $3.2bn Court Square Capital Partners III fund.
We weigh up the pros and cons of the most common types of GP-led secondaries.
White Plains, New York state
The firm, founded by two former senior Goldman Sachs executives, is running a tender offer involving around $4.6bn of net asset value.
The process comes as the Carlyle Group also explores using secondaries on its 2013-vintage Sub-Saharan Africa fund.
Africa
Emerging market GP-led deals are rife with difficulties but Carlyle’s name and the dynamics of the secondaries market suggest a deal can be done on its Africa fund.
The private equity giant approached secondaries buyers about acquiring LP stakes in its 2013-vintage Sub-Saharan Africa Fund and making a stapled commitment to its successor.
Blue chip managers are using stapled secondaries deals to boost fundraising and provide liquidity to LPs. In this 17-minute podcast, lawyers from Proskauer, Debevoise & Plimpton and MJ Hudson discuss how GPs and LPs should approach this growing transaction type.
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