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
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
