News & Analysis

The deal is part of a wave of LP secondaries driven by fund investors’ desire to get proceeds from older funds.

‘Valuations have returned to a steady state, but GPs are facing more significant DPI challenges than ever,’ W Capital Partners’ David Wachter tells Secondaries Investor.

“What if tomorrow CDPQ in Canada and Allianz in Germany say they’re going to allocate €1bn to GP-leds every year? They could. They should even, to be honest,” says Reach Capital’s co-founder and managing partner William Barrett.

The mid-market specialist is seeking €1.5bn for Unigestion Secondary VI, according to Secondaries Investor data.

The new secondaries buyer founded by Mantra’s former head of secondaries Fabrice Moyne has an opportunistic and flexible approach across structures and strategies, its partners say.

The innovative transaction involves StepStone providing funding for MLC Private Equity’s seed portfolio and additional capital for its new investments.

The US has traditionally dominated the real estate secondaries market, but Europe and Asia are poised to make up ground.

CVC Capital Partners has kicked off plans to list on Euronext Amsterdam. It is expecting to raise a minimum of €1.25bn via the IPO.

The vehicle is targeting €1bn to focus on LP- and GP-led transactions as well as select co-investment opportunities.

The Decade of Secondaries Investing podcast miniseries celebrates 10 years of Secondaries Investor with reflections on key trends that have shaped the market, as well as a glimpse into what likely lies ahead.