Secondaries

PE’s heady fundraising environment has left many LPs overallocated, forcing them to ponder who should receive their commitments and how much they should get.

Although secondaries investors have limited influence on underlying assets, there are steps they can take to engage with ESG issues and promote science-based targets, says Tim Clare of Anthesis.

While 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.

While few established secondaries firms remain independent after a glut of M&A transactions last year, more groups than ever are seeking a seat at the table in the expanding marketplace.

GP-led deals dominated H1 2021. But buyer appetite since then is a reminder that LP portfolio sales are the market’s bread and butter.

While the adoption of venture capital sponsor-driven transactions is in the early stages, the technology is already adapting to the nuances of the asset class.

Attracting the best candidates is as challenging as winning a deal, but firms can put those same strategies to work in their recruitment processes, says PER's James Ellis.

Family offices make up a small percentage of sellers, but GP-led growth is forcing them to think about their portfolios in a new way.