Secondaries

Supply from managers looking to the secondaries market to hold onto assets for longer periods continues to grow.

The trade group has issued guidance to address concerns over conflicts and the speed of GP-led deals.

The challenge has been reaching final closes on large processes, in part because of the difficulty of syndicating out large deals to smaller investors.

Compliance's 'one-way ratchet' may mean fewer, bigger firms in the private funds industry.

Presidio saw an opportunity to extend its hold over Elevate as it continues to implement its growth plan that includes further spending and future acquisitions.

Asia-Pacific’s contribution to fundraising last quarter fell below historical norms – with just $2.2bn raised, or 1.3% of the global total, according to PEI's downloadable Q1 data.

LP sales were expected to kick off a resumption of robust secondaries activity after a slowdown late last year, but external factors like the collapse of Silicon Valley Bank have continued to keep activity muted.

GPs will soon have to report on sponsor-initiated secondaries deals within 60 days from the end of each quarter, after the US regulator voted through the proposals Wednesday.

The number of vehicles to wrap up fundraising during the first quarter suggests total funds to close this year could fall by half, according to PEI data.

Continuation funds could provide sponsors with more time and capital to execute transformative sustainability initiatives.