Private equity

From partial exits to continuation funds, more African GPs are turning to secondaries transactions to deliver liquidity back to LPs.

For the Decade of Secondaries Investing podcast miniseries, industry veterans Jeremy Coller and Yann Robard sit down with senior editor Adam Le to discuss the proliferation of non-traditional strategies and how this will fuel the industry’s growth.

Strategic Equity V is already larger than its $5.3bn predecessor, according to chief investment officer and chief executive Beno​ît Durteste.

The transaction is in the early stages and could reach $2bn in size, sources have told Secondaries Investor.

Hamilton Lane Secondary Fund VI is currently sized at ‘over $5bn’, according to co-CEO Erik Hirsch.

Speaking at the HKVCA’s Greater China PE Summit on Monday, Lexington director Niklas Risberg said buyers require discounts and strong GP alignment to get comfortable with the region’s higher level of risk.

The USS sale marks the latest sizeable LP-led portfolio that Partners Group has backed in recent months.

In this sixth episode of the Decade of Secondaries Investing podcast miniseries, we sit down with HarbourVest Partners’ Jeffrey Keay and PJT Park Hill’s Adrian Millan to discuss the phenomenon of repeat sellers in the secondaries market.

Inventory on the GP-led side of the business is high and the completion rate for such deals is said to hover around 50%.

The investment arm of global wealth manager will mainly focus on mid- and large-cap assets via its sophomore fund.