Secondaries

The lower mid-market, GP-led specialist Timber Bay Partners is bolstering its platform, joining a slew of other firms looking to do the same.

‘The returns have been very strong over time in this area, and that’s making it attractive to investors,’ COO Jonathan Gray said of Blackstone’s secondaries business.

The secondaries market has remained red-hot. While the area is not without its hurdles, uncertainty in the first half once again reinforced its worth.

CVs of CVs have become a popular tool to maintain control of trophy assets, with several processes launching this year.

Available secondaries capital grew to a record high of $302bn in the first half, with aggregate NAV of retail vehicles managed by secondaries investors surpassing $80bn as of March, according to a report from Jefferies.

Looking for a good listen while you’re on a summer adventure? We asked industry leaders for their suggestions.

The firm recently closed its latest credit secondaries programme on $6.8bn, including its credit evergreen offering for US investors.

Industry leaders from around the market share their recommendations for you to read by the pool this summer.

More venture firms are following the lead of buyout firms by creating continuation funds to provide liquidity to LPs in older funds. Here are the pluses and minuses for GPs and LPs considering CVs.

From private wealth capital to higher bids, to LP-GP alignment, evergreen products are making their mark on the market.