Earlier this month an SEC official speaking at an industry conference signaled the US regulator’s interest in stapled secondary deals. Do they create situations where fiduciary duty may be skirted?
3 min read · 29 May 2015
We recently caught up with HarbourVest on why and how it will begin offering secondaries exposure to retail investors.
2 min read · 10 April 2015
Repairing pre-crisis partnerships is a $100bn market, but the technical challenges are considerable and best practice remains a work-in-progress.
3 min read · 20 March 2015
The need for founder and employee liquidity in small, pre-IPO companies has fuelled specialist secondaries activity since the dotcom-days. But as the market shifts towards employee liquidity programmes, regulators are keen to establish a ‘fair, liquid and transparent’ market.
3 min read · 13 March 2015
Complex structures, scale and breaching safe harbours top lawyers’ lists of challenges unique to today’s secondaries market.
2 min read · 27 February 2015
Think you know the difference between a fund recap and a restructuring? Your peers might not.
3 min read · 13 February 2015
2014 was the year of high priced fund books and cheap leverage, Coller Capital chief investment officer Tim Jones said.
2 min read · 06 February 2015
Perseus’ five legacy funds finally have a new owner in distressed investment firm Centre Lane, giving longstanding LPs a liquidity option. But it wasn’t your average secondaries deal.
3 min read · 30 January 2015
Just three advisory firms accounted for nearly half of the estimated $52bn in secondaries activity last year.
1 min read · 16 January 2015
Long-standing relationships and LP-friendly terms were key elements in HarbourVest’s €215m stapled transaction with Doughty Hanson.
3 min read · 09 January 2015
