Secondaries

China’s performance paradox: The opportunities and risks for secondaries

The RMB secondaries market has concluded its first full cycle. While there are opportunities to be had, there are risks to be overcome to ensure sought-after returns, writes Nebula Advisors’ Stanley Geng.

Partners Group wraps up debut infra secondaries fundraising effort with $5.5bn raised

The capital comprises $1.7bn for a fund – exceeding a $750m – as well as $3.8bn raised in bespoke mandates.

More than half of secondaries investors run evergreen vehicles

Adoption of evergreen vehicles is broadening across the secondaries buyer universe, according to a report from Evercore, with this capital increasingly deployed into a broadening set of opportunities.

Townsend raises $2bn for real estate secondaries

The multi-manager has already deployed $1bn out of its latest secondaries fund and related vehicles, with an early emphasis on data centre investments.

Lead Edge and Hamilton Lane lead Summit Partners’ $625m deal for NinjaOne

The SaaS provider has generated large returns following Summit’s initial investment, with LPs given a range of options to roll or cash out during the CV process, Secondaries Investor understands.

Secondaries volume extends record-breaking run in H1

‘The last several years have been very volatile… The fact that we still saw this record volume is remarkable,’ Jefferies’ Scott Beckelman tells Secondaries Investor.

Clipway soars past target to reach $6.4bn for debut fund

The firm’s inaugural vehicle launched in June 2023 with a $4bn target, Secondaries Investor data shows.

Download: Secondaries fundraising surpasses $50bn in first half

Secondaries fundraising saw its second-strongest first six months across a six-year period, with Q1 accounting for the bulk of activity.

Private real estate rides the recap wave

As refinancing pressures mount and exits remain elusive, real estate investors are turning to recapitalisations to unlock liquidity and extend hold periods in a challenging market, writes Giovanni Legorano.

Real estate’s decisive adoption

The secondaries market is increasingly used to reconcile competing investor objectives with a broadening base of investors flocking to the asset class. These developments are permanent.