Secondaries

Existing Fund III LPs have several options in the process, including selling at a premium, rolling on a status quo basis or moving their interests with the GP with additional new capital.

The number of sponsor-led secondaries coming to market this year is expected to be bolstered by fundraising delays, rising demand in China for US dollar commitments and a backlog of transactions.

Investing in businesses at one remove means secondaries firms need a different dynamic if they are to innovate on environmental, social and governance issues.

Samantha Hutchinson and Brian Foster examine how ‘PRAV’ facilities, preferred equity solutions and continuation financings can be used.

Blackstone joins TPG as the latest high-profile GP to raise a separate fund for GP-led secondaries.

Investors seeking liquidity on the PE investing platform will be able to sell their fund stakes to the New York secondaries giant.

Buyers told Setter Capital they expect global secondaries investing to reach an all-time high of nearly $90 billion this year.

The firm held a final close on Cathay Innovation Fund II on €650m last month, more than doubling the firepower of its 2016-vintage Fund I, founder MingPo Cai tells PEI.

The secondaries market has quickly moved from traditional sales of LP portfolios to transactions that give GPs more time with certain assets while allowing LPs in older funds to grab liquidity.

CIO Jim Grossman told the $63bn pension's board that staff would focus on slower private equity pacing to reduce its allocation for now.