Secondaries: Private equity secondaries may be the key to democratizing the asset class, writes Adam Le in this deep dive. Indeed, ’40 Act funds targeting a wider investor base often use secondaries to ramp up assets at launch, since investor money is placed in the fund right away, rather than called down when an investment is about to be made, and can be used to winnow down the cash drag that has pose a conundrum for such funds in the past. Read on to find out the various ways in which secondaries are disrupting the market.
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Email prepared by Graham Bippart