Commentary

‘Private IPOs’ – one step behind continuation funds with a similar trajectory

While market participants disagree with its branding, exercises to rejig the underlying shareholder base of companies to provide liquidity are underway

The rise of LP continuation fund investors

While there is certainly a host of alignment issues LPs would like to see resolved, a number of investors have adjusted their policies to invest in continuation vehicles.

The need for standardisation in secondaries rears its head…again

Eye-watering legal charges have been likened to ‘racketeering’; industry co-operation could solve the problem.

HarbourVest: Scale is required to take the lead on secondaries’ growing deals

‘I can hand on heart say there has never been a deeper, more robust pipeline than the one that we have right now,’ HarbourVest’s Jeff Keay told Secondaries Investor on the back of its $15.1bn flagship raise.

Will the ‘nice guy’ era of secondaries one day come to an end?

A recent GP-led process that came across our desks suggests the collaborative nature of the secondaries market is alive and kicking – for now.

What do LPs get out of selling on the secondaries market?

Despite a couple of pulled-transaction anomalies, secondaries sales are still seen as a powerful tool for rebalancing portfolios.

What does and doesn’t fall into the definition of a secondaries deal?

The inclusion of adjacent strategies such as GP stakes and portfolio financing in volume reports shows how what matters to secondaries market participants is evolving.

What makes real estate continuation vehicles different?

Stephenson Harwood’s Gabriel Boghossian and Sarah de Ste Croix outline four main ways continuation funds in the real estate sector differ from their private equity cousins.

The growth trajectory of venture secondaries

Evercore’s latest Secondaries Market Review paints a reassuring picture for the multiple new entrants to the venture secondaries market.

Secondaries’ latest record: set to last?

While it’s easy to point to liquidity constraints as an anomaly, the market believes secondaries’ record-breaking streak should continue.