Commentary

Netley Capital’s Berendsen: From potential LP to tertiary player

A conversation with a secondaries player about an LP commitment sparked the former Cinven dealmaker’s idea to launch a tertiary platform.

Why Japan’s $74bn university endowment is leaning into secondaries

The fund has increased its secondaries budget to capture opportunities arising from market uncertainty, says private equity head Yasuyuki Tomita.

Secondaries is emerging as an impact opportunity

As impact investors increasingly seek liquidity, sustainable secondaries funds are ‘drinking out of a fire hose’.

Why run a credit CV?

It is more in credit GPs’ interests to actively pursue liquidity than remain passive with tail-end portfolios.

The CV alternative when growth is the objective

The growth and adoption of mid-hold equity is expanding the capital market toolkits of GPs and providing an alternative to single-asset CVs when an extended investment runway for portfolio company growth is the primary goal, write Audax’s Kumber Husain and Daniel Green.

VC’s continuation fund barriers

There is heightened interest in continuation funds within the venture space, yet these vehicles may not be best suited to most managers.

Can there be a $50bn secondaries fund? There’s no reason why not

The Secondaries Investor 50 ranking shows fundraising is on an ever upward trajectory – and few are predicting when it will stop.

Room for old and new?

Private equity managers are flocking to the secondaries market. Is there enough dealflow to go around and guarantee success?

Secondaries may be a primary target for 401(k)s

The strategy’s popularity among evergreen vehicles could make it a shoo-in with US retirement plans.

The biggest takeaways from our latest CV Deal Log

Our latest database of continuation vehicles has yielded a few surprising results.