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The growth of secondaries and the realities of the market amid the pandemic have forced more flexibility into the classic PE fund model, according to a survey by Paul, Weiss, Rifkind, Wharton & Garrison.
Costly tech stacks are accelerating the trend towards outsourcing, with fund operations and portfolio management the areas most likely to be affected.
Managers have a big role to play in ensuring the resiliency and long-term value of investors’ portfolios, and they need to get better at supplying data.
Investors appear to have adapted quickly to virtual processes. We consider whether some of these changes are here to stay.
But investors express concern over shifting terms, with a significant minority worried about the extent to which GPs are using credit lines.
Pent up demand among secondaries buyers and LPs’ desire to manage their portfolios in the wake of covid-19 points to healthy transaction volumes in the year ahead.
Talent retention and succession strategies are gaining greater weight in due diligence processes as gripes over key person clauses grow.
As outsourcing soars, debate around who foots the bill rumbles on.
Private equity remains firmly in regulators’ sights, despite marked improvements in transparency.
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