Upwelling Capital Group related stories
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Side Letter: The walking dead?In today's edition, Why zombie funds could lead to a markdowns 'reckoning'; Asian giant MBK closes below target as a controversy rumbles on; Federated Hermes racks up more capital for co-investments.
LPs benefit from offloading tail-end stakes early – studyAn LP that reinvests the proceeds into a first-quartile fund would see their portfolio outperform the value of holding the tail-end asset by year two – even assuming a 20% discount, according to research from Upwelling.
Side Letter: Black hole fundLPs without the technical capacity or appetite for secondaries could find themselves with a trophy asset blind spot. Plus: San Bernardino reckons emerging managers could prove key to unlocking exit opportunities. Here's today's brief, for our valued subscribers only.
It’s never too early for LPs to engage with GPs on clawbacksThere are multiple ways an LP can avoid having to take the last resort route of suing a GP over return of paid-out carry.
How many PE funds are at risk of GP clawback? One in 14 – studyThere could be almost $80bn of NAV in funds where carry is owed back to LPs that have backed US vehicles, according to research from Upwelling Capital Group.
What do LPs really think of continuation funds?Investors including Alaska Permanent, Caisse des Dépôts, Skandia, New York City Retirement Systems and TRS Texas share their views on how this market can be improved and how they are positioning themselves to take advantage of CVs.
NPS shows LPs are keen not to miss the boat on continuation fundsInstitutional investors can no longer ignore the fact that exposure to high-quality assets is increasingly accessed via the secondaries market.
Side Letter: PE's dirtiest wordsNAV loans are the dirtiest words in private equity, according to a report from Upwelling Capital. But first, notes from the London School of Economics' annual alternatives conference. Here's today's brief, for our valued subscribers only.
PODCAST: Unlocking the power of stakeholder-driven exitsThe fifth and final episode of Disruption Matters season two delves into the ways PE firms can ensure they're creating value for all stakeholders.
Side Letter: Continuation fund comparisonsA new paper from Upwelling suggests that not all continuation funds are created equal. Plus: What APAC investors are seeking from their lawyers; and how to pick deals using AI. Here's today's brief, for our valued subscribers only.