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Inside LPs’ growing liquidity toolkit

StepStone’s John Kettnich and PJT Park Hill’s Adrian Millan discuss the drivers of demand for structured secondaries such as collateralized fund obligations, NAV financings and preferred equity on the latest edition of the Second Thoughts podcast.

Nautic taps existing LPs Carlyle AlpInvest, HarbourVest to lead $3bn CV

The process comes as the Institutional Limited Partners Association publishes fresh CV best practices, including on when LPAC members participate as buyers in deals.

ILPA softens language around CVs

An executive at the LP trade group says the finalized guidance is meant to be ‘principles-based’ instead of ‘prescriptive’.

Madison Dearborn runs CV-on-CV for insurance asset

The deal is part of an emerging trend of sponsors moving assets from multi-asset CVs into single-asset vehicles.