Lps

Connecticut pulls potential secondaries sale due to weak pricing

The $50bn US pension system backed off a planned secondaries sale after prices came in too low.

Secondaries landscape may narrow due to LP sophistication

A wider breadth of investors will take an interest in secondaries in 2024, market sources tell Secondaries Investor.

Increase in LPs seeking to back secondaries funds – LP Perspectives Survey

It’s a bright picture for investor interest in the strategy, affiliate title Private Equity International’s LP Perspectives 2024 study has found.

MassPRIM looks to revamp continuation fund policy

The pension fund’s proposal covers processes that involve contributing additional capital in continuation fund deals.

ADIA upped secondaries exposure last year amid ‘boon’ for buyside

Abu Dhabi Investment Authority’s secondaries activity last year included making a cornerstone investment in Apollo Global Management’s S3 platform.

Florida SBA becomes ‘more aggressive’ on secondaries purchases

The pension system, which has a separate account to invest in LP stakes, is expecting a buyers’ market and an uptick in secondaries dealflow.

UC Regents runs $1.2bn LP sale of infra fund stakes

The sale is being run in steps, with the first round of about $500m recently closed.

HarbourVest emerges as largest buyer of New York State Teachers’ portfolio

The teachers’ pension portfolio is among several that have moved through the market this year, helping to drive secondaries volume even as activity on the GP-led side of the market remained muted.

LPs want protections from continuation funds for their ‘no fee’ co-investments

With sluggish fundraising and GPs often desperate for capital, LPs are in a stronger position to demand certain concessions that may have been unworkable in the bull market years.

To sell, or not to to sell? That is the LP’s question

LPs are facing a difficult choice as they balance liquidity challenges with the deep discounts on offer in the secondaries market.