Limited Partners

In taking over from Suyi Kim, Gubbels will become the Canadian giant’s second consecutive female private equity head.

The new policy would let ACERA’s staff make the decision to roll existing assets or portfolios into continuation funds if that falls in line with ACERA’s financial consultant’s recommendation.

LP-led deals accounted for $40bn of the $68bn of global secondaries volume seen in H1 2024 as bid-ask spreads narrowed.

A recent Palico white paper found 36% of sellers on its platform this year are high-net-worth individuals, compared with just 11% last year.

The deal is part of a series of large LP sales driven by liquidity concerns, the need to rebalance investment exposures in investment portfolios and strong pricing for high-quality private markets funds.

LPs are turning to the secondaries market to address liquidity constraints amid improved pricing, as compelling supply/demand dynamics and structural innovations help fuel LP-led dealflow.

The €255bn unit of French financial giant BNP Paribas Group wants to sell a bundle of private equity and infrastructure stakes, Secondaries Investor has learned.

The sponsor-initiated secondaries market will hit a stumbling block if incumbent LPs’ needs and wishes aren’t prioritised over those of incoming ones.

Some LPs not in need of liquidity use the secondaries market as a way to tweak their portfolio’s construction, which is the case with IMCO.