Single Assets

Alaska’s Waldrop on why the SWF is not a seller in the LP-led market

Alaska Permanent Fund’s deputy CIO for private markets, Allen Waldrop, explains why the SWF has been a buyer in the CV market and has not been a seller even when it has been overallocated to PE.

360 ONE Asset seeks to capitalise on India’s $30bn annual demand for exits

The Mumbai-headquartered asset manager recently closed its debut secondaries fund above target on 50bn rupees.

LP terms disclosed for New Mountain’s continuation fund

Active GP members in the New Mountain team will roll all of their proceeds into the CV, according to LP documents.

ICG raises largest fund for GP-led secondaries with $11bn close

ICG Strategic Equity Fund V is more than double the size of its predecessor, which closed on $5.3bn in 2022.

HarbourVest leads Graham Partners’ CV on Gatekeeper

Deal highlights the increasing adoption of CV technology by mid-market sponsors, which have been strategically utilising more highly concentrated CVs than multi-asset vehicles.

Beware the motivated M&A buyer

There have been two recent instances of continuation funds falling by the wayside in favour of M&A. In some instances, this can cause real headaches.

GI Partners runs $1bn-plus CV process on data centre business Flexential

Infrastructure/real asset deals accounted for about 6% of the $84bn of GP-led volume last year, according to a Greenhill report.

No golden ticket

The GP-led secondaries market is continuing its growth spurt – both in terms of volume sought and new entrants. But there’s no guarantee that everyone will succeed.

Astorg disbands GP-led effort amid tough environment for new entrants

The firm’s decision comes two months after Secondaries Investor reported the European manager had put its blindpool GP-led secondaries fundraising plans on ice.

New Mountain raises expectations for Real Chemistry CV to $3bn

Liquidity remains a main focus in the industry as exit activity has yet to pick up after a multi-year slump.