By making GP clawbacks gross of taxes, the new rules could lead to the resurgence of the archaic original American waterfall.
3 min read · 24 March 2022
Sceptics says concentrated GP-leds are an expensive way of doing co-investments; the Canadian pension believes the two markets address different risk/reward profiles.
2 min read · 17 March 2022
Pamplona Capital Management’s decision to ‘redeem’ holdings in its funds owned by an LP with ties to sanctioned Russian oligarchs shows stake disposals can come in unexpected ways amid the Ukraine crisis.
3 min read · 10 March 2022
ILPA’s upcoming guidance has been spurred by investors’ annoyance at unreasonable deadlines and the amount of work needed to make decisions on these deals. The secondaries community should take note.
3 min read · 03 March 2022
Deal certainty and pricing are two immediate casualties of Russia’s invasion of Ukraine this week.
3 min read · 24 February 2022
Blackstone’s Mileway deal is further evidence liquidity doesn’t have to come from the secondaries market – and that’s not necessarily a bad thing.
2 min read · 17 February 2022
Despite Coller Capital raising a record-breaking fund for the strategy, LP sentiment for credit secondaries does not appear to be as supportive as one might think.
2 min read · 10 February 2022
While there are advantages to using an M&A process to set the price of a GP-led deal, buyers should not wear the technology out.
3 min read · 03 February 2022
While secondaries activity shows no signs of slowing, LPs and GPs need to get on the same page about how to smooth out this process for institutional investors going forward.
3 min read · 27 January 2022
Secondaries fundraising figures for 2021 came in more than $35bn shy of the prior year, but they were more impressive than they seem.
2 min read · 20 January 2022
