Secondaries

The single-asset process is focused on Hispanic food-focused Flagship Food Group, which was subject to a GP-led process in 2018.

The CAA process was one of several large-scale deals in the secondaries market run by GPs looking to extend holds over companies held in older funds.

Thrive Alternatives has developed proprietary software to advise on primary fundraisings, secondaries transactions and strategic advice mandates.

Holding assets longer is not always the first consideration for prized assets, healthcare investors said at a Dechert conference.

If you’re a GP trying to figure out how to hold onto prized assets for longer, chances are you’ve had a call with Evercore’s Nigel Dawn.

The single-asset deal is in a market that has been flooded with GP-led transactions as managers look for ways to hold treasured assets beyond the parameters of traditional private equity funds.

A House bill, as currently written, came as a surprise to the market, as other regulatory, inflation and competitive headwinds abound in private equity.

The deal is an example of a formerly independent sponsor using the secondary market to provide liquidity to investors, while keeping a hook in the asset as it continues to grow.

Secondary buyers like to see a GP using capital from a new fund to reinvest in an older portfolio company as an example of the manager’s belief in the business.

The secondaries specialist, which spun out of Deutsche Asset Management, is at least the fifth secondaries firm to be subject to an M&A process this year.