Adviser

Private markets’ burgeoning capital concentration challenge

By appealing to retail and large institutional investors, mega-managers may end up with the lion’s share of capital, with implications for themselves and their investors, writes Cambridge Associates’ Andrea Auerbach.

Goldman hires Rothschild’s head of GP solutions

Andrei Brougham has agreed to join Goldman’s secondaries advisory unit as it seeks to bulk out its European capabilities, Secondaries Investor understands.

Secondaries volume reaches $165bn in Q3, in line with 2024’s full-year figures – PJT

Q3 saw $60bn of secondaries volume with just over half made up of GP-led deals, according to estimates from the investment bank.

Baird’s Duksin: 40 Act funds make up 15-20% of secondaries market demand

While ’40 Act funds haven’t yet moved market pricing in GP-led deals, these evergreen funds are ‘certainly are participating and creating syndicate demand’, Baird’s GP solutions group co-head Jeremy Duksin tells Secondaries Investor.

Strong appetite for small CVs driven by finite number of mega-deals – Reach Capital

While more buyers are coming into the smaller end of the CV market, there remains less competition compared with larger deals creating room for steeper discounts, according to a report.

UBS hires DC Advisory exec to lead Europe secondaries advisory

The development comes a week after it emerged that UBS’s former EMEA head Sandro Galfetti had joined Houlihan Lokey.

Bank of America taps PJT for senior advisory hire

The hire comes a year after the US’s second-largest banking institution made its foray into secondaries market advisory.

Jefferies MD said to have accepted role at rival Moelis

Chief executive Ken Moelis has previously said the investment bank would be ‘aggressive’ in building out its secondaries advisory business.

Private wealth capital driving down return targets – PJT

Full-year deal volume could reach as much as $230bn, according to the investment bank’s estimates.

The market’s back on track for $200bn

The secondaries market has remained red-hot. While the area is not without its hurdles, uncertainty in the first half once again reinforced its worth.