DATA SNAPSHOT: How investors view GP-led secondaries

Around a quarter of limited partners are dissatisfied with GP-led restructurings that they have been party to, according to data from sister publication Private Equity International. GPs undertaking such transactions should expect some debate around who foots the cost.

Every year, PEI Media’s research and analytics team gathers views from a global cross- section of investors in private equity funds for Private Equity International‘s Perspectives special report. The topics covered are wide-ranging, scoping in everything from performance expectations to due diligence matters. The full survey results and analysis are available to subscribers of Private Equity International.

Elements of best practice are emerging around GP-led fund restructuring processes, as we explored in detail earlier this year. Although most investors are satisfied that they get sufficient information and time to decide whether to cash out or roll into a new vehicle, most of the investors who have been involved in a fund restructuring do not feel the costs of the process were fairly divided between the GP and the fund.