Secondaries Special 2014: Hotting up

The secondaries market has become a much more mainstream tool for people with assets they want to sell, restructure, or put out to pasture. The latest Private Equity Summer Barometer from Coller Capital found that roughly two thirds (67 percent) of limited partners plan to use the secondaries market to buy or sell assets in the next two or three years. 

But pricing is on the rise: Cogent’s most recent study found that the average high bid for buyout funds was 100 percent of NAV – the first time that any strategy has priced at or above NAV since 2007. In these circumstances, where can value be found?

In this, our annual special report, Private Equity International examines some of the key themes and trends in today's ever-changing secondary market. Links to all this year's topics can be found below:

Overview: Pricing, volume and trends in the secondaries market in 2014 

Why managers aren't giving up on secondaries in Asia 

Is there too much leverage being used to juice returns? 

Why direct secondaries specialists in Europe are seeing more single-asset opportunities 

The argument for waiving management fees on new vehicles 

Structured deals: an alternative to straight secondary sales? 

The challenges posed by the rebound of the US VC market 

Deal Mechanic: GMT Communications' new lease of life