North America

Partial exits, continuation funds and NAV loans helped bring the industry’s cashflow to breakeven in 2024, according to Bain’s latest global private equity report.

Late last year, it emerged TowerBrook had used a continuation fund in a transaction to delist its portfolio company R1 RCM from NASDAQ.

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.

In the first PEI awards to give secondaries its own list of winners, Lexington Partners wins Secondaries Firm of the Year in the Americas.

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.