Infrastructure

Amid LP demand for liquidity and distributions, the infra secondaries market saw an unprecedented rise last year. We uncover how this positions the market for future growth.

Private equity secondaries will be a $500bn market by 2030, the firm’s founder and chief investment officer Jeremy Coller tells Secondaries Investor.

The firm’s incoming CEO aims to provide private wealth investors with access to a full suite of investment strategies, including secondaries.

CVC Capital Partners has kicked off plans to list on Euronext Amsterdam. It is expecting to raise a minimum of €1.25bn via the IPO.

The vehicle is targeting €1bn to focus on LP- and GP-led transactions as well as select co-investment opportunities.

Secondaries firms should develop vehicles capable of providing liquidity for a wider variety of players within the infrastructure space, says HarbourVest’s Diego Jimenez at PEI Group’s Infrastructure Investor Network Global Summit.

Heightened supply and the climbing cost of credit mean the pricing for infrastructure secondaries is increasingly attractive for buyers.

Rothschild advised on €2bn of GP-led deal volume last year, including infrastructure continuation fund deals for Ancala Partners and DWS.

There was a sharp spike in the use of deferrals last year, driven by improved pricing for GPs and additional benefits for secondaries buyers, according to partner Gerald Cooper.

More than one in four GPs used the secondaries market to extend hold periods, while a further 18% were enticed by unfunded commitments, according to the investment bank.