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Ts & Cs

risk
Buyers are proposing fresh ways of ensuring sponsors stay aligned, according to a panel at PEI's Investor Relations, Marketing & Communications Forum.
books
The buyout shop is making a €300m investment from its latest fund in the process, which values Springer Nature at about $7bn.
tech
The $31bn manager is targeting secondaries investments through its 2019-vintage Fund XI and an in-market follow-on vehicle.
legal
Ropes & Gray advised on more than 150 deals worth $17.5bn in 2019, according to the Secondaries Investor Law Firm Survey 2020. 
Light painting photography - long exposure, blue and purple fairy lights in swirling patterns on a clean black background
Buyers are requesting a bigger GP stake in continuation vehicles and cross-fund investments are on the rise, according to the advisor.
Iceberg ice water
This so-called 'status quo' option has gone a long way in helping get LPs comfortable with GP-led liquidity processes.
sale
The number of funds coming to market openly offering discounts for early-bird commitments or big ticket sizes is dropping, according to research seen by sister title Private Equity International.
insurance
The rise of GP-led deals has highlighted the importance of liability protection, bringing warranty & indemnity insurance into the secondary market, say insurance broker Lockton and law firm Akin Gump.
hot cakes
The secondaries market is more seller-friendly than ever, allowing sponsors to push terms that surprise even seasoned pros. This is unlikely to last.
Sunaina Sinha_Cebile
Strong buyer demand is allowing some GPs to drive better terms for themselves on manager-led deals, according to panellists at PEI's Women in Private Equity Forum.
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