General Partners

The next phase of secondaries will see GPs embracing a broader range of interim liquidity solutions, say David Wachter and Todd Miller at W Capital Partners.

Secondaries capital that comes with deep sector expertise may define the next iteration of the GP-led market.

After a strong year for LP-led secondaries sales, buyers are shifting their attention to GP-led transactions once again, say Ropes & Gray’s Isabel Dische, Debra Lussier and Paul Van Houten.

Fisch tells us about his early sports dreams, how endurance athletics can be relaxing, and the importance of giving back 'of our treasure and of our time.'

As GP-led secondaries continue to grow in popularity, TPG’s Michael Woolhouse and Matt Jones argue that these are a distinct discipline from their LP counterparts, requiring specialization to flourish.

Sponsors need to be realistic about price and commit incremental equity on top of a 100% rollover to stand out in today’s market, says Andrew Gulotta, a partner at Sixpoint Partners.

The compelling benefits of the GP-led market have fueled a 5x growth in depth and breadth, and that growth is only accelerating, say W Capital Partners’ David Wachter and Todd Miller.

The parties that bear the costs can vary according to the structure of the deal.

Proposed reforms in the US aim to make an independent fairness opinion a requirement in GP-led deals.

The regulator turned its attention to secondaries processes last year as part of a wider set of proposals designed to enhance disclosures in private markets.