“Listen to the seller”

Marleen Groen of Greenpark Capital on what sellers of private equity investments are looking for, current appetite for secondary funds and the difference between volume and value investing.

Greenpark Capital is one of a growing band of managers looking to provide investors in private equity partnerships with an increasingly popular exit mechanism – the early liquidity event.

Recently talking to PrivateEquityOnline in London, CEO Marleen Groen explained how secondaries are playing an increasingly important role in the market, why investors are keen to invest in secondaries funds and why she'd rather be a value than a volume player in a business that is getting more and more competitive.

Like many practitioners in the field, Groen is confident about the prospects for the secondaries market: 'The market size will certainly increase', she says. 'Institutions are realising that the liquidity solution is there.' According to estimates, up to three per cent of existing private equity commitments is recycled in the secondaries market each year.

Groen, a former executive at secondaries house Coller Capital, founded Greenpark Capital in 2000 together with Joanna Jordan, Guy Brennan and Andrew French. The firm is presently raising its first fund, Greenpark International Investors I, with a view to investing in limited partner interests worth up to $75m. The fund has a target of  $200m.