Stapled deals and restructurings can fall through for many reasons, but it’s often related to pricing that’s too low and LPs who don’t feel the need to sell.
4 min read · 09 October 2015
Although high start-up valuations are making direct secondaries investments more challenging, they are also making the exit environment more attractive, explains Zach Abrams, managing partner at Stratim Capital, which provides liquidity to shareholders and venture capital investors in privately-held companies.
4 min read · 06 October 2015
Montana Capital was able to raise €400m in only 10 weeks as LPs are drawn to shorter-life funds.
3 min read · 02 October 2015
Realisations were driven in part by secondaries, which also fueled growth of the firm’s investment portfolio.
2 min read · 30 September 2015
Secondaries deals are being disrupted by the fact that most of the world’s major public stock indices have fallen between 3 to 8 percent this year.
3 min read · 25 September 2015
In an increasingly crowded transactions market, the competitive edge is shifting to buyers with efficient transaction processes. Fadi Samman, a partner in the investment management practice at law firm Akin Gump, offers his tips for what investors should consider.
3 min read · 22 September 2015
In a falling NAV environment, buyers are often guessing where NAV will be the following quarter and it can paralyse some market participants.
3 min read · 18 September 2015
Increased competition, speedier transactions and market maturation are among the factors impacting fees advisors earn when brokering fund stake sales.
3 min read · 11 September 2015
With a degrading macro and a stock market plunge, investors may have to face some old daemons such as the denominator effect, which may reappear on CIOs’ agendas, explains Thomas Liaudet, a partner at Campbell Lutyens’ secondary advisory team.
3 min read · 08 September 2015
General partners – with and without troubled funds – are increasingly seeing the secondaries market as a fundraising tool.
3 min read · 04 September 2015
