Secondaries

PJT Partners expects private equity secondaries to see $75bn of volume in H2 2024.

The fund, which is seeking $750m, has already committed over $450m to new investment opportunities, according to documents prepared for a MWRA Employees’ Retirement System board meeting.

Fundraising in the first half dipped year-on-year to $34.5bn, with Hamilton Lane’s $5.6bn close on Secondary Fund VI marking the largest raise in H1 2024.

Trade group calls for LPAC consent in some cases, and for new fund documents to cover usage and limits.

A strip of performing loan investments have been moved off SMBC Group’s balance sheet to establish a new fund, according to a statement seen by Secondaries Investor.

While it’s easy to point to liquidity constraints as an anomaly, the market believes secondaries’ record-breaking streak should continue.

The fund has invested nearly $3bn as of June, according to documents from the MWRA Employees’ Retirement System.

LP-led deals accounted for $40bn of the $68bn of global secondaries volume seen in H1 2024 as bid-ask spreads narrowed.

Martin Longchamps, head of private equity at the $319bn Canadian giant, discusses how secondaries sales helped bring the pension’s PE allocation back on target.

A recent Palico white paper found 36% of sellers on its platform this year are high-net-worth individuals, compared with just 11% last year.