Asia-Pacific

Secondaries fundraising slips in H1 following record 2023

Fundraising in the first half dipped year-on-year to $34.5bn, with Hamilton Lane’s $5.6bn close on Secondary Fund VI marking the largest raise in H1 2024.

ILPA seeks LPAC vetoes and full disclosure over NAV loans

Trade group calls for LPAC consent in some cases, and for new fund documents to cover usage and limits.

Secondaries’ latest record: set to last?

While it’s easy to point to liquidity constraints as an anomaly, the market believes secondaries’ record-breaking streak should continue.

Opportunity for ‘significant’ LP selling activity in coming months – Jefferies

LP-led deals accounted for $40bn of the $68bn of global secondaries volume seen in H1 2024 as bid-ask spreads narrowed.

Buyers seek concentrated CVs to complement diversified LP-led deals – Campbell Lutyens

Of the $27.6bn of GP-led activity seen in the first half, $17.2bn was deployed into single-asset or highly concentrated continuation funds, according to the adviser’s mid-year report.

Secondaries sees record first half as volume surpasses $70bn – Evercore

LP-led deals made up 57% of volume as pricing increased for buyout, credit, and venture and growth, according to the adviser’s half-year report, shared with Secondaries Investor.

Secondaries Investor Advisory Survey 2024: Co-advisory mandates arrive

One-third of respondents to Secondaries Investor‘s latest survey of intermediaries say they worked with another adviser on a transaction during the reporting period.

The path to a $1trn secondaries market just got a little clearer

Institutional investors like Korea’s National Pension Service entering the buyside is crucial if the market is to grow.

Korea’s $793bn NPS forms dedicated continuation fund, GP stakes teams

The country’s largest public pension will pursue both private equity and private credit continuation fund opportunities, according to investment policy committee member Sam Y Chung.

Stick or switch?

There are some sizeable LP-led portfolios out in the market. However, one LP believes collateralised fund obligations and NAV loans could provide attractive alternatives to traditional portfolio sales.