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Claire Coe Smith

An open door is blocked by a brick wall
A slowdown in the exit market is pushing managers to explore alternative options and hone their value-creation skills.
Impact investor Summa Equity closed Summa Circular, believed to be the first Article 9 continuation fund, in December, breaking new ground for the secondaries market.
AI ilustration
Artificial intelligence could help turbo charge sustainability efforts in private markets by freeing up stretched ESG professionals to focus on strategic work.
The impact of fund-level subscription facilities on performance is among the areas targeted by sweeping changes from the SEC.
NAV financing provisions have not typically been detailed in fund documentation, but that could change as the market matures.
Forward-thinking managers can safeguard their investments by keeping abreast of emerging risk.
Bucket and spade
A consultation on SFDR has raised questions about what the regulatory framework for impact and ESG strategies will look like in the future.
The financing tool is increasingly being used as a private debt product.
Developing a value-creation function takes time, but appointing someone to lead on strategy and engage with external advisers can put firms on a strong footing.
With banks constrained by market uncertainty, sub lines are taking longer to negotiate.

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