Private Equity

Secondaries

Are secondaries too good to be true?

Cyril Demaria, head of private markets at Wellershoff & Partners, argues secondaries provide a false sense of security to investors and that the benefits of mitigating the J-curve may have been oversold to LPs.

3 min read · 27 November 2017

Why the fund of funds model is still relevant

A revamped internal structure, new business lines and a focus on separate accounts have helped the firm thrive in a tough market for funds of funds, says head of secondaries Wouter Moerel.

5 min read · 23 November 2017

When less isn’t more

CalPERS is reviewing its strategy of consolidating PE commitments into fewer managers. What will that mean for the industry?

3 min read · 16 November 2017

Onex buys $354m stake in its own flagship

The firm acquired the interest from an unnamed LP in Onex Partners IV in late September, chief financial officer Chris Govan said in a third-quarter earnings call.

2 min read · 14 November 2017

A new dawn for securitisations

Temasek’s upcoming Astrea IV deal could herald a way for retail investors to access private equity in earnest.

3 min read · 07 November 2017

Fund restructuring without friction

Credit Suisse’s Jonathan Abecassis responds to PEI’s assessment of GP-led fund restructurings and the need for a genuine ‘do-nothing’ option for LPs.

3 min read · 02 November 2017

NBG spin-out eyes complex secondaries

Stage Capital, which spun out of National Bank of Greece's alternatives arm last year, is itself interested in backing spin-outs and portfolio transfers.

2 min read · 02 November 2017

Temasek to return with Astrea IV securitisation – exclusive

The Singaporean state-backed investor has been acquiring private equity stakes on the secondaries market to include in the portfolio, Private Equity International has learned.

2 min read · 31 October 2017

Neuberger Berman backs Fondo Italiano spin-out

The investment firm has acquired minority direct stakes in the fund's portfolio companies and will work with the Italian manager to raise a country-focused fund.

2 min read · 25 October 2017

Fund restructuring: a source of friction

The fact that Apax Partners shelved plans for its GP-led secondaries process shows that LPs' desire a genuine 'do nothing' option.

3 min read · 19 October 2017

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