Secondaries

Fund of funds sales represented the majority of LP transactions by asset managers in 2023, according to a recent full-year 2023 volume report.

The Point Investment sale is part of a wave of LP secondaries driving activity in the market this year.

The single-asset continuation fund process is part of a wave of such deals GPs are attempting as a way to deliver proceeds to limited partners in older funds at a time of slow exit activity.

As the LP-led market grows ‘white hot,’ mosaic transactions are sparking debate among some practitioners over the impact on returns.

The SEC private fund rules will provide a regulatory framework around GP-led secondaries, ultimately supporting their continued growth, say Tim Toska and Emily Ergang Pappas of Alter Domus.

The proportion of investors looking to back private equity secondaries funds has been rising steadily since 2020.

As contributions exceed distributions in the private equity asset class, the secondaries market is proving more important than ever, says Northleaf Capital Partners managing director Matthew Sparks.

Following a drought in distributions, private equity dealmaking is showing signs of awakening in 2024, writes Yann Robard, managing partner at Dawson Partners.

Going beyond standard commitment expectations in continuation fund transactions can help sponsors demonstrate alignment.

Maturing market attracts a more regular flow of LP and GP sellers as the buyside expands.