Single Assets

Private equity managers are flocking to the secondaries market. Is there enough dealflow to go around and guarantee success?

The buyout firm launched Sage Equity Investors last year with a $1.5bn target.

The firm confirmed it had closed a $1.9bn CV-on-CV process for isolved this month.

The first half of the year saw 38 continuation vehicles close, with several more launching or being eyed, according to data gathered by Secondaries Investor.

The Mexican restaurant chain deal marks the first continuation vehicle for food sector-focused Butterfly Equity.

Co-CEO Marc Lipschultz said ‘we plan to be the leader’ in GP-leds during the firm’s 31 July Q2 conference call.

The buyout firm had moved Curium Pharma into a €1.2bn single-asset continuation fund in 2020.

The firm is understood to be running a process to move the vegetation management services company out of its $934m Fund IV and into a new vehicle.

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

CVC is the latest manager to seek out a large continuation fund for a Europe-headquartered asset, Secondaries Investor has learned.