Commentary

Welcome to the era of the secondaries operating partner

Secondaries capital that comes with deep sector expertise may define the next iteration of the GP-led market.

The blurred lines between a private IPO and a continuation fund

Private equity continues to face a liquidity crunch. Could a new technology for exits be on the horizon?

All eyes on infra and the dealflow uptick to come

Three infrastructure managers were snapped up during a week where Pantheon has raised the market’s biggest ever secondaries fund focusing on the asset class.

Banner Ridge’s Cusano: fundraise was less about strategy and more about results

Banner Ridge reached a $2.15bn final close for its latest flagship fund this year, smashing its $1.4bn target.

Cost of capital front of mind as Lexington closes industry’s biggest fund

The firm’s $22.7bn haul this week comes at a time when institutional investors are assessing the opportunity cost of their investments.

Secondaries is driving advisory consolidation

Advisories with secondaries capabilities are proving particularly attractive in the race to offer clients a one-stop-shop.

Cambridge Associates’ Andrea Auerbach: Rate cuts in 2024 may break the transaction logjam and spur activity

‘Much like covid variants, 2023’s challenges will evolve and expand as we head into 2024, and some might even abate.’

The year that continuation funds broke new ground

In 2023, continuation funds spread to geographic markets anew and niche strategies such as impact funds, while increasingly involving complex situations and assets.

Move over, debt funds – RE secondaries are driving appetite, too

Two historic fundraises in the space of a week tell us much about where real estate investors see opportunities for returns in a fractured market.

Blackstone’s Verdun Perry: Disruption can lead to programmatic sales

Market disruptions can motivate large investors to evaluate how they generate liquidity, oftentimes leading to repeat sales, according to Strategic Partners’ global head.