Deals

Ardian’s Small: Cherry-picking strategy helps spur on firm’s returns

While Ardian wants to make sure it gets the best pricing in its deals, the most indicative link back to the returns it generates is ‘not necessarily what we pay, but what we buy’, senior managing director Wills Small said in a video interview.

Strong pricing, capital needs and maturity driving infra secondaries volume

Infrastructure secondaries volume is expected to double in the next five years after seeing at least $15bn last year.

Partners Group acquires $2.2bn of energy assets from Avenue’s CV

There have been few documented cases of continuation vehicle exits given the nascent nature of such transactions. The deal has become the latest example.

When will we see a $10bn CV? Probably soon

Rising acceptance of continuation funds could drive further growth in the GP-led space, industry participants said at PEI Group’s NEXUS 2025 event in Orlando last week.

‘This will not be the last time that we sell’ – NYCRS‘ Kadziela

Four out of NYCRS’ five pension systems are selling a more than $5.5bn portfolio to Blackstone Strategic Partners in a deal set to close at the end of March.

CV-squared: The rise of CVs on CVs

GPs are looking to hold on to their prized assets for longer than ever, but repeated continuation vehicles are bound to invite questions from existing and prospective investors.

Lead buyers emerge on Inflexion’s £2bn-plus multi-asset CV

The European mid-market firm, which has £11bn in AUM, is looking to move four UK-based assets into a new vehicle, Secondaries Investor understands.

GPs get hands-on with secondaries

As traditional private equity houses enter the secondaries market en masse, more GPs are building up their capabilities to run ‘DIY’ continuation vehicle processes in-house.

TowerBrook running €1bn-plus multi-asset CV

Late last year, it emerged TowerBrook had used a continuation fund in a transaction to delist its portfolio company R1 RCM from NASDAQ.

Strategic Partners emerges as sole buyer in NYC’s $5bn-plus secondaries sale

While $1bn portfolios are a more common factor in the market today, New York City’s sale stands apart as among the largest of all time.