Secondaries

In this podcast, PEI Group editors discuss what GPs say they're focusing on amid the trade war-induced uncertainty, how the secondaries market stands to benefit, and how investors are reacting to the volatile environment.

GPs are looking to hold on to their prized assets for longer than ever, but repeated continuation vehicles are bound to invite questions from existing and prospective investors.

The registered ’40 Act fund aims to broaden the firm’s investor base and expand access to private markets.

While continuation vehicles may not always be the optimal solution for sponsors and LPs, other attractive liquidity solutions are gaining in popularity, writes Todd Miller, partner at W Capital Partners.

LP-led sales made up 52% of the record $152bn of secondaries volume seen last year, according to Lazard's latest market report.

There have been cases when continuation funds have been 'misused and overused,' according to Teia Merring, senior investment director at USS and chair of ILPA.

Diverse collateral mix of secondaries, portfolio finance and co-investments helps Carlyle unit close above target on $1bn.

Pilot product helps LPs conduct cost-benefit analyses and lets smaller GPs act without advisers.