Asset classes

Kline Hill leads on Plaza Ventures’ CV for digital advertising company

The deal gives Plaza more time with StackAdapt amid AI disruptions, with the firm’s investment considered one of the high-returning Canadian venture deals of all time.

Secondaries may have a benchmarking problem

The lack of standardisation when it comes to benchmarking secondaries raises questions about how the strategy should be measured and whether traditional PE benchmarks are a good fit.

The so-called ‘zombie fund’ problem persists and LPs are concerned

Investors expect the number of tail-end vehicles still holding assets to rise amid ongoing liquidity pressures and difficulties in GPs differentiating themselves.

Painswick brings PE focus to single-asset CVs

Painswick Capital views single-asset continuation vehicles as a PE business and has built its firm around that thesis, founder John Garcia and partner James Powers tell Secondaries Investor.

Most LPs don’t expect CV activity to decline when exits improve

Around 40% of LPs expect continuation vehicle activity to continue growing, with a number opting to take a more concentrated approach to this corner of the market, according to Coller Capital’s latest Barometer report.

Flexstone agrees to acquire Glouston as it accelerates secondaries growth

Glouston Capital Partners’ focus on the US will complement the firm’s geographic footprint in the secondaries market, Flexstone CEO Eric Deram tells Secondaries Investor.

CalPERS’ new alts head takes sophisticated approach to secondaries

Anton Orlich, architect of the US pension giant’s PE turnaround, will now also be responsible for its private credit, real estate, infrastructure and other alternative programmes.

Future Standard secures ~$3bn for latest flagship

The fund primarily focuses on LP-led deals in the North American mid-market.

Neuberger PE head keen on ‘mid-life solutions’, flags CV concerns

Mid-life investments can offer a solve to generate liquidity and realisations, stepping into the place of CV deals that can be complicated where co-investors have backed an asset, Neuberger’s head of European PE Joana Rocha Scaff says on the latest edition of PEI Group’s Commitment Issues podcast.

CVs’ about-turn

Some LPs have expressed scepticism around the return potential of LP-led secondaries, while interest in CVs is heating up.