News & Analysis

Oliver Gottschalg, professor of strategy and business policy at HEC Paris, has created a model to value secondaries fund stakes that analyses top-down factors, turning the market’s bottom-up approach on its head.

Full-year deal volume could reach as much as $230bn, according to the investment bank’s estimates.

The fund is the latest in a string of launches as the demand for credit secondaries grows.

The Dutch pension administrator’s sale is part of a wave of sales processes that institutional investors are using to help manage their programmes amid an exit drought and a slowdown in distributions.

The buyout firm had moved Curium Pharma into a €1.2bn single-asset continuation fund in 2020.

CIO of $6bn Midwest pension would prefer the system remain ‘more of a buyer than a seller’ when it comes to private equity funds.

Just 17 buyers accounted for nearly 70% of total secondaries volume in the first half, according to a report by the advisory firm.

The lower mid-market, GP-led specialist Timber Bay Partners is bolstering its platform, joining a slew of other firms looking to do the same.

The fund is slightly skewed towards LP-led deals and looks for opportunistic investments in the GP-led market, head of infrastructure secondaries, Wandy Hoh, tells Secondaries Investor.

The firm is understood to be running a process to move the vegetation management services company out of its $934m Fund IV and into a new vehicle.