Reporter Adam Le here, filling in while Marine’s on the West Coast. Two stories I reported on this week stood out in my mind as they both involved older funds and how – and whether – to find value in them.
3 min read · 14 August 2015
The supply of real estate secondaries is increasing dramatically, but it remains to be seen whether there’s enough demand to absorb it all.
3 min read · 07 August 2015
Deals are being done faster than ever, with binding bids coming in within a week or two, and large sales completing in half the time. That’s the key takeaway from Greenhill Cogent’s half-yearly volume and transaction data, but there are a couple of other driving factors too.
3 min read · 31 July 2015
Talking to market participants in Chicago this week, three clear themes emerged: buyers are becoming sellers, restructurings are here to stay and return expectation are way down.
3 min read · 24 July 2015
Why cash-rich LPs are a problem and other themes European advisors are buzzing about.
3 min read · 17 July 2015
The announcement by the California Public Employees’ Retirement System that it plans to sell $3 billion-worth of real estate fund stakes comes at an opportune time for secondaries buyers and intermediaries who have been building teams and raising new dedicated funds targeting the sector.
4 min read · 10 July 2015
Facing competitors with deep pockets and inflated valuations, many traditional direct secondaries investors are steering clear of shiny ‘unicorns’.
3 min read · 26 June 2015
Discounts don’t necessarily lead to outperformance. So why are so many market participants fixated on them?
3 min read · 19 June 2015
Secondaries buyers and sellers are waiting for more clarity on the impact of the fall in oil prices on energy-focused funds, but opportunities remain in some pockets of the market.
3 min read · 12 June 2015
Environmental, social and governance issues increasingly prevent LPs from committing to a specific fund, but might they also cause an uptick in secondaries deal flow?
3 min read · 05 June 2015
