News & Analysis

The average reported deal value per adviser went up $3bn from 2023, reflecting a surge in activity as secondaries activity hit historic levels in 2024.

French private equity firm Motion acquired Olyos in 2018. It will move the asset into a new vehicle as it seeks to capitalise on M&A and growth opportunities.

The investment firm deployed $700m in GP stake secondaries alone in 2024, including a single transaction valued at over $500m, founder and chief investment officer Christopher Zook said.

This is at least the second time IDG has tapped the secondaries market for a CV deal, having previously completed a GP-led five years ago.

While CalPERS has been a net buyer of secondaries in the past, poor distributions from private equity assets in these particular vintage years would cause the LP to look at opportunistic sale processes of certain managers.

One of the assets in the two-company continuation fund is housed within an existing multi-asset CV closed in 2022, Secondaries Investor has learned.

In addition to its largest round of partner promotions ever, the firm promoted eight new managing directors.

President and COO Jon Gray expects the secondaries market will continue to grow as LPs seek out liquidity – though he anticipates the ‘re-emergence of M&A activity at scale’ this year.

The firm’s second GP-led fund, which closed on $4bn earlier this month, is over four times the size of its predecessor.

The utilisation of SPACs and manager consolidation had detracted the region’s attention away from the secondaries market, Jefferies’s head of Asia financial sponsors Lars Aagaard argues.