Secondaries

Some evergreens enjoy short-term performance boosts from secondaries mark-ups, JPMorgan Asset Management portfolio manager Brian Lam tells Private Equity International.

In today's edition, PE's liquidity crunch is driving an evolution in structured offerings; AI's defence drive could create headaches for tech investors; Tikehau targets Japan.

Cash income, J-curve mitigation and diversification make GP stakes an attractive option for private wealth and retail investors. But a lack of liquidity could be a problem.

A live deal by Carlyle is taking the concept of structured solutions to another level.

Exits and liquidity pressures, growing mid-market opportunities and the rise of evergreen capital are reshaping how LPs are approaching private equity investing.

Japanese institutional investors are expanding their PE portfolios in the mid-market, as well as co-investment and secondaries, say Neuberger’s Jonathan Shofet, Yoshi Yagisawa and Hiro Fukuda.

As mid-market GPs look to scale, GP stakes investors can help by sharing their global expertise and by teeing up new liquidity solutions, explains Brad Pilcher, partner at Bonaccord Capital Partners.

In today's edition, PE's liquidity crunch sparks an LP default; Secondaries could receive a further injection of capital; KKR finds another 15x reasons to endorse ESOPs.

The system's process marks the latest instance it has sought liquidity in the secondaries market.