Western Europe

The denominator effect combined with a need for liquidity has delivered a boost to the nascent credit secondaries market.

A few years ago there were doubts about whether the credit secondaries market had become fully established. There seems little room for such a view these days, writes Daniel Roddick of Ely Place.

Oakley is seeking to continue its hold of German university group IU Group, which it initially backed in 2017.

More capital was closed on for private equity secondaries in the first quarter of the year than for any other strategy outside of buyouts.

The average number of secondaries transactions advised on sat at 24 in a year where overall secondaries market volume was estimated at around $110bn.

Continuation funds could provide sponsors with more time and capital to execute transformative sustainability initiatives.

The Institutional Limited Partners Association chief executive questions whether the industry is equipped to serve a more demanding clientele.

Delaney Brown has overseen a secondaries team, led by Dushy Sivanithy, that joined the buyside of the single-asset market last year with a $1bn deployment target.

Increasing interest from institutional investors in secondaries has not yet materialised in transaction volumes, writes James Jacobs, head of real estate for Lazard’s private capital advisory group.

Some LPs have felt so frustrated at the way continuation fund processes have been run that they have decided not to re-up with their manager, representatives from the investor body told Secondaries Investor.