Lazard related stories
All articles and analysis
Side Letter: GP-led alignment; PE's PM predictions; ESG's Florida foeAlignment in continuation fund transactions may be a tangled web, but routes to success remain, as we explore below. Plus: UK deal certainty could benefit from a leadership change and Florida's ESG crackdown could prove a headache for GPs. Here's today's brief, for our valued subscribers only.
Setting things straight: Just how aligned is the secondaries market?As an increasing number of sponsors turn to secondaries processes, doubts are being raised about the market’s building blocks. Just how aligned is the secondaries market today?
Secondaries alignment: Name your priceFinding the pricing sweet spot to satisfy sponsors, buyers and LPs is tougher than ever in today’s market.
Side Letter: GPIF's $2.3bn PE pile; Equistone's €300m GP-led; UK's tech boomThe world's largest pension grew its private equity assets fivefold over the past year. Plus: Equistone has completed its first GP-led transaction and private equity appetites for UK tech appear to be soaring. Here's today's brief, for our valued subscribers only.
The Nordic 'thought leader' LP that's sceptical of GPs going publicSwedish insurer Skandia Asset Management doesn't just go with the flow. Its head of private equity and infrastructure, Daniel Winther, discusses his bearish outlook on of continuation funds, sponsors listing and ESG targets.
Investors push for greater alignment in continuation vehicles versus blind-pool fundsFunds set up to allow sponsors to hold assets for longer typically must satisfy both an IRR and MOIC hurdle, research from law firm Paul Hastings has found.
What Blackstone, Carlyle and abrdn look for in GP-led dealsSponsors must ensure their own interests align with those of their existing LPs and the buyers to combat a rise in 'conflict washing', panellists at last week's Invest Europe forum warned.
PEI Awards 2021: Secondaries winnersThe awards for secondaries deals, firms, advisers and law firms in Europe, Asia and the Americas
Easing the path to GP-led dealsWhile GP-led clauses in fund agreements are not a silver bullet, certain LPA provisions could help GPs and LPs better navigate these transactions should they arise.
LP deals are reclaiming the secondaries throneGP-led deals dominated H1 2021. But buyer appetite since then is a reminder that LP portfolio sales are the market’s bread and butter.