North America

Roughly half of the CV’s value is concentrated in two portfolio companies, Secondaries Investor understands.

Secondaries is not about stressed portfolios or assets that firms cannot sell – it is about capital allocation and repositioning, according to CEO Harvey Schwartz.

The change in the investment policy will streamline the SBI’s investment process and keep it in line with the policies of its peers, according to its CIO.

Some GPs view continuation vehicles as ‘temporary measures’, according to the financial services firm.

Endowment sales ticked up in the first half of this year to around 15% of overall LP sales, according to Campbell Lutyens’ half-year volume report.

Aqualis Partners is looking to take advantage of the growing and increasingly attractive small-cap market.

The vehicle will invest in a variety of strategies, including secondaries.

By appealing to retail and large institutional investors, mega-managers may end up with the lion’s share of capital, with implications for themselves and their investors, writes Cambridge Associates’ Andrea Auerbach.

Competition for capital is fierce, but new firm formation is poised to continue nonetheless.

Private markets M&A continues to gather pace as asset management mega-platforms attempt to meet all their investors’ needs.