News & Analysis

The system has not yet finalised a contract with a secondaries adviser.

$1trn in annual deal volume is achievable with upticks in secondaries trading in non-PE asset classes, NAV lending, preferred equity and GP stakes, according to Whitehorse Liquidity Partners’ founder.

CFES 2 is a multi-strategy impact fund, NPM has learned – the latest in a handful of climate and impact funds with secondaries strategies.

Goldman Sachs Asset Management’s predecessor fund, which closed on $2.75bn in 2020, is the third-largest real estate secondaries fund to date.

Secondaries advisory has become a desired function at investment banks, and many smaller, mid-market focused financial institutions brought on secondaries talent in recent years.

New players will bring ‘significant amount of capital into… a market that’s capital-starved’, Evercore’s Nigel Dawn tells senior editor Adam Le.

Moonfare already has strong ties to the secondaries market, having partnered with Lexington in 2021 to help users sell their fund stakes.

The continuation fund for global life science ingredients distributor Barentz is understood to be around €850m in size.

The deal is an example of the kind of complex transactions LPs can use to capture liquidity from their private equity programmes at a time of slow exit activity.

‘The easy transactions to quickly pass on are those with bad motivations or with the wrong asset,’ Sanabria tells Secondaries Investor’s Adam Le.