Limited Partners

The UK’s proposed tax reform offers clarity to secondaries buyers

The new legislation will bring buyers’ offshore execution to an end, which under stamp duty came with its own grey areas in a digital age, Hogan Lovells Cadwalader’s Elliot Weston tells Secondaries Investor.

Industriens Pension mulls adding more infra secondaries exposure

The Danish retirement scheme favours indirect over direct investment in secondaries and has made commitments to all five infra secondaries vehicles managed by Pantheon, infrastructure funds head Mikkel Kjaersgaard tells Secondaries Investor.

MetLife closes $1.2bn managed fund deal with Lexington

The insurer had shopped a portfolio of funds and co-investments with a net asset value of $1.8bn, Secondaries Investor understands.

Behind EQT’s VC continuation fund: HarbourVest leads €526m vehicle

The continuation fund houses eight assets, with five to six making up the bulk of net asset value, Secondaries Investor understands.

The art of self-governance

There’s reasons on all sides to settle on market practice when it comes to continuation vehicle guidance – lest regulators decide it for you.

BCI seeks ‘good returns’ from newly launched capital solutions strategy

While more LPs are participating directly in CVs and secondaries transactions, such investors remain ‘the exception, not the norm’ in the market, according to BCI’s global head of PE.

From ‘status quo’ to ‘remain in place’: ILPA updates CV guidance for an evolving market

The industry body’s prior guidance was ‘silent on a lot of things’, chief executive Jennifer Choi tells Secondaries Investor.

Most LPs don’t expect CV activity to decline when exits improve

Around 40% of LPs expect continuation vehicle activity to continue growing, with a number opting to take a more concentrated approach to this corner of the market, according to Coller Capital’s latest Barometer report.

Japan Science and Technology Agency begins to invest in infra secondaries

JST senior manager Keigo Yumino says the university endowment’s infrastructure portfolio is ‘fully diversified’ – but personnel shortages remain a challenge in building its direct investment capabilities.

Neuberger PE head keen on ‘mid-life solutions’, flags CV concerns

Mid-life investments can offer a solve to generate liquidity and realisations, stepping into the place of CV deals that can be complicated where co-investors have backed an asset, Neuberger’s head of European PE Joana Rocha Scaff says on the latest edition of PEI Group’s Commitment Issues podcast.