Distressed Investing

Credit secondaries take off in wake of covid crisis

Recent events bode well for credit secondaries – a small and rapidly growing part of the overall secondaries asset class.

Pomona: Expecting the unexpected in secondaries

The secondaries market offers significant opportunities, but in light of macro uncertainties, it is best to focus on being prepared rather than making predictions, says Pomona Capital’s Michael Granoff.

Banner Ridge hits hard-cap on flagship fund

The firm, founded by Tony Cusano, has raised $1bn to invest in special situations, distressed and credit secondaries opportunities.

Distressed specialist Multiplicity closes third fund

The Zurich-headquartered firm targets underperforming funds and those with limited upside to NAV across a range of asset classes.

Tikehau, Foundation discuss their Asian expansion plans

Tikehau Capital acquired Singapore secondaries firm Foundation Private Equity in July, having entered the credit secondaries market in 2019.

Northleaf: Secondaries is pushing asset class boundaries

Once the domain of private equity, the secondaries industry is now gaining momentum in infrastructure, debt and real estate, says Northleaf managing director Mike Flood.

Performance Watch: Blackstone Strategic Partners

Strategic Partners Fund IX is likely to be one of the largest ever secondaries funds, with a target of $13.5bn.

SI 50: Secondaries climbs to greater heights

This year’s ranking of the industry’s biggest secondaries fundraisers is larger and broader than ever.

Apollo spinout Nexus Capital runs GP-led deal on younger fund

Nexus’s fund is young compared to most GP-led deals, though some recent transactions have involved younger assets in what appears to be something of an expansion of the scope of the strategy.