Secondaries

Of the $27.6bn of GP-led activity seen in the first half, $17.2bn was deployed into single-asset or highly concentrated continuation funds, according to the adviser’s mid-year report.

The firm hopes to surpass the size of its previous secondaries flagship, which closed on $22.2bn in 2023.

LP-led deals made up 57% of volume as pricing increased for buyout, credit, and venture and growth, according to the adviser’s half-year report, shared with Secondaries Investor.

Tim Henn, who has joined from JPMorgan as head of private equity secondaries, tells Secondaries Investor the firm plans to invest in deals with GPs it knows through its platform.

The Paris-headquartered firm raised €200m for its debut secondaries fund last year.

One-third of respondents to Secondaries Investor‘s latest survey of intermediaries say they worked with another adviser on a transaction during the reporting period.

Secondaries Investor reported in May that CVC Secondary Partners and Pantheon were leading the transaction around TIC asset Normec.

In episode nine of the Decade of Secondaries Investing podcast miniseries, sponsored by UBS Asset Management and Proskauer Rose, we look at how the secondaries market has developed in Europe and how the strategy’s global growth could play out.

The change in name comes three years after the private equity giant acquired a 60% stake in the secondaries specialist.

Institutional investors like Korea’s National Pension Service entering the buyside is crucial if the market is to grow.