News & Analysis

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.

Active GP members in the New Mountain team will roll all of their proceeds into the CV, according to LP documents.

Despite closing its debut real estate secondaries fund below target, the manager perceives a lack of capital in the market relative to the opportunity set.

ICG Strategic Equity Fund V is more than double the size of its predecessor, which closed on $5.3bn in 2022.

Approximately half of the private equity evergreen market is expected to be allocated to secondaries in the next decade, according to estimates.

Kylie Hart, co-founder of global executive search firm Norgay Partners, breaks down how the secondaries market has been compensated on the back of last year’s record secondaries volume, in the latest episode of our Second Thoughts podcast.

Last year saw 70 continuation vehicles close, with scores more hitting the market, according to data gathered by Secondaries Investor.

Continuation funds represented about 13% of sponsor-backed exit volume last year, the report said, up from 12% in 2023, according to BlackRock’s 2024 activity report.

Small-cap secondaries funds have a number of competitive advantages over their larger counterparts, including higher discounts due to a mismatch in supply and demand, according to a new white paper from the Paris-based buyer.

The strategy, which will focus on providing strategic capital to lower-mid- and mid-market buyout GPs for add-ons, was launched in 2022.