Guest Commentary

Park Hill on the state of the secondaries market

Jon Costello, partner and head of the firm’s secondary advisory group, discusses a potential deal volume record in 2018 and an environment full of choice.

Yann Robard’s 7 tips for young secondaries professionals

As we release our Young Guns of Secondaries Class of 2018 ranking, secondaries veteran Yann Robard shares his advice for young people eyeing a career in the industry.

The seven problems with carried interest allocation

Simon Havers of executive search firm Odgers Berndtson details why carried interest allocation is not smooth sailing.

Defaulting on commitments: what happens

When an LP can’t meet a drawdown request, what happens? What recourse does a GP have? Ed Hall from law firm Goodwin analyses the remedy and negotiation points in this extract from The LPA Anatomised.

Renegotiating the LPA: extensions

Proskauer’s Nigel van Zyl discusses investment period and fund term extensions, in this extract from The LPA Anatomised.

Secondaries buyers need to beware of ECI

The new tax laws brought in a withholding tax on partnership interests held by non-US people. James McCredie of Macfarlanes explains the implications.

Renegotiating the LPA: basics

Proskauer’s Nigel van Zyl explains the key commercial, legal and investor relationship issues GPs need to consider before amending the agreement’s provisions or restructure funds.

Finding uncorrelated returns through lower mid-market secondaries

Star Mountain Capital founder and chief executive Brett Hickey tells us why specialised secondaries have an advantage.

For private funds, the beginning is in the end

GPs need to show they can handle their end-of-life funds when raising a new fund.

Should end of life be a new beginning?

Negotiations and arrangements for the remaining portfolio – including potential secondaries sales – can prove fiendishly complicated, writes Julia Corelli of law firm Pepper Hamilton.