Limited Partners

Nebraska endowment’s CIO: ‘Discounts aren’t as extreme as we’d like’

The $3bn University of Nebraska Foundation sees ‘some value’ as a buyer in syndicated portfolio sales comprising 50 fund stakes, according to CIO Brian Neale.

CV market could quadruple by 2034 – Schroders Capital

CIO Nils Rode tells Secondaries Investor that CVs could eat into buyout dealflow over the next decade.

CalPERS shops $3bn PE portfolio as it works to reconfigure programme

Bids on the portfolio were due this week, with the expectation that the process closes by end-September.

Superfund Colonial First State eyes secondaries as path to private markets growth

Secondaries will be a ‘really important’ part of the $104bn wealth manager and retirement plan provider’s initial build-out.

Top academic’s machine learning model rethinks secondaries pricing

Oliver Gottschalg, professor of strategy and business policy at HEC Paris, has created a model to value secondaries fund stakes that analyses top-down factors, turning the market’s bottom-up approach on its head.

APG tries again with large portfolio sale after pulling process last year

The Dutch pension administrator’s sale is part of a wave of sales processes that institutional investors are using to help manage their programmes amid an exit drought and a slowdown in distributions.

Following the cool kids – semi-liquids’ impact on secondaries

From private wealth capital to higher bids, to LP-GP alignment, evergreen products are making their mark on the market.

LPs benefit from offloading tail-end stakes early – study

An LP that reinvests the proceeds into a first-quartile fund would see their portfolio outperform the value of holding the tail-end asset by year two – even assuming a 20% discount, according to research from Upwelling.

What surprised secondaries advisers in 2024?

Advisers encountered several pleasant surprises in 2024 – contributing to momentum that many expect to carry through the rest of this year.

CAZ Investments first port of call for GP stake secondaries

The investment firm deployed $700m in GP stake secondaries alone in 2024, including a single transaction valued at over $500m, founder and chief investment officer Christopher Zook said.