New Mexico Educational Retirement Board (NMERB)’s deputy chief investment officer explains why the pension set up a separate account with Siguler Guff to focus on secondary investment opportunities in distressed debt and special situations.
3 min read · 06 November 2015
Benoit Verbrugghe, head of Ardian US, reveals the secondaries firm’s strengths, from its in-depth knowledge of assets obtained through its primary fund of funds business to its proprietary technology.
3 min read · 03 November 2015
Staying small and leveraging relationship are the key to the secondaries advisories business, says Solomon Owayda, who recently founded Mozaic Capital Advisors with Christine Patrinos.
4 min read · 13 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
Fabian Neuenschwander, senior vice-president at Partners Group, says that although some private equity groups with large secondaries capability may enter the real estate secondaries market, the supply/demand imbalance is likely to remain for some time.
3 min read · 25 August 2015
While the secondaries market is providing a convenient avenue for limited partners to sell fund stakes and access to liquidity, alternatives such as preferred equity have become welcomed opportunities for LPs looking to preserve portfolio upside, explains Pierre-Antoine de Selancy, managing partner and co-founder of London-based 17Capital.
3 min read · 30 July 2015
Fund restructurings have become a common occurrence in the secondaries market. Jeff Hammer and Paul Sanabria, managing directors and co-heads of the illiquid financial assets practice at Houlihan Lokey, explain what makes a GP a good candidate for a fund restructuring and how to ensure that LPs are getting the best possible deal.
4 min read · 14 July 2015
Leerink Capital Partners recently raised a new $192 million fund along with Revelation Partners to invest in direct secondaries in healthcare companies. Scott Halsted, managing director at Revelation, explains the strategy and the current environment for healthcare secondaries investments.
3 min read · 02 July 2015
With strong deal flow and high pricing expectations, demand for direct secondaries is robust, but the market also tends to reflect a disconnect to the fundamentals, according to Hans Swildens, chief executive and founder of Industry Ventures.
3 min read · 22 June 2015
With only few active buyers, the secondary market for timberland fund stakes remains quite illiquid compared to other asset classes, creating inefficiencies and offering attractive discounts to net asset value, says Thomas Goodrich, a partner with Stafford Capital Partners.
3 min read · 08 June 2015
