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Ts & Cs

Florida SBA eyes more co-investments amid high-priced secondaries market

The strategy has returned 15.5% since inception, as the pension fights pressure on returns by co-investing with its secondaries partners.

The seven problems with carried interest allocation

Simon Havers of executive search firm Odgers Berndtson details why carried interest allocation is not smooth sailing.

‘Record number’ of funds reaching secondaries transfer limits

Record-high transaction volumes mean that under US tax laws some LP stake transfers will not be permitted until 2022, according to a report by intermediary NYPPEX.
GP commitment

GPs with more skin in the game make safer bets – report

GP ownership is a significant factor in risk-taking, according to a study from the Norwegian School of Business and Goethe University Frankfurt.
funds

Performance Watch: Hollyport Capital

As Hollyport seeks $750m for its latest flagship fund, we look at the terms of the fund and the niche secondaries specialist's performance so far.
the number five

The five biggest secondaries stories of H1 2019

With half the market on the beach, it’s time to take stock. These are the stories that generated most interest on Secondaries Investor in the first half of the year.
Nice, France

BEX ditches fees for NGOs in $365m fund close

Fund III is BEX’s first to offer ‘X shares’, which are exempt from management fees and carried interest, for non-governmental organisations and major non-profit foundations.

Distributions spike, capital calls sink in 2017

The divergence of these metrics brings into question the idea that secondaries offers a quick path to liquidity, according to data from eFront.

How carried interest gets better with age

Private equity professionals who manage more than $20bn and have at least 16 years' experience earned $65m in carry last year.

Why the hurdle rate needs a revamp

For all the debate it provokes, the conventional hurdle rate has remained stubbornly untouched since the ’80s.
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