Investors

Underlying value of companies within CVs accelerates in 2024 – Houlihan Lokey

Nearly 45% of companies within single-asset CVs had an implied TEV greater than $2bn last year reflecting minority interest or strip sales for larger companies being used in these deals.

Fubon Life sells PE, infra fund stakes worth more than $1bn

Part of the portfolio, which includes exposure to Advent International and Antin Infrastructure Partners, was picked up by Hamilton Lane.

Amid uncertainty, LPs tap secondaries in varying ways

With private equity portfolio sales proliferating, here’s why UK multi-family office Stonehage Fleming is an active secondaries buyer and Australian state fund QIC is not.

Committed Advisors backs €227m sale from Peugeot Invest

French investment firm Peugeot Invest is offloading 35 PE funds to rebalance its portfolio.

Targeted returns and milestones revealed for sizeable infra secondaries raises

A North American pension fund is exploring commitments to six funds managed by Ares, Blackstone, HarbourVest, Macquarie, Pantheon and Partners Group.

Amid endowment sales, UC Regents in ‘fortunate position’ with private assets weighting

With peers facing substantial portfolio challenges, the $30bn endowment is urging restraint in what its leaders say is an environment for endowments akin to 2008’s financial crisis.

LPs continue debate over continuation vehicles and NAV loans – updated

Speaking at PEI’s Women in Private Markets Summit, representatives from investors including NYCRS expressed caution about the rise of CVs on CVs, saying such practice could make GPs appear ‘desperate’.

Houlihan taps Metlife PE exec for latest advisory hire

The hire is understood to bring the total number of professionals within the investment bank’s directs and secondaries team to 35.

Ex-CalPERS’ Musicco: Evergreen funds will change LP-GP dynamics

The transactional nature of semi-liquid fund structures can place a lower importance on relationship building between investors and their managers, says Nicole Musicco.

Tariffs are leading global LPs to sell US investments – Morgan Lewis

Some LP-led deals that had not yet closed at the time of the US tariff announcements have either been reopened to account for valuation uncertainties or delayed.