Single Assets

Amid the widespread adoption of continuation funds, an LP’s ability to roll into a fund is becoming more important.

Brentwood Associates’ latest secondaries process follows a fund restructuring deal undertaken by the PE firm in 2021.

The deal marks the first CV for mid-market specialist Estancia Capital Partners, Secondaries Investor understands.

The single-asset process will allow the firm to hold onto a software company which was part of a multi-asset deal it ran in 2019, Secondaries Investor has learned.

HarbourVest and Goldman Sachs are understood to be the lead buyers on the multi-asset continuation fund and a single-asset continuation fund, respectively.

The firm is considering the strategy at a time when several traditional private equity buyout firms have expanded their capabilities into GP-led secondaries, while others are making moves into the space.

LGT partner Martha Heitmann discusses the firm’s flagship and single-asset strategies, opportunities in the smaller end of the secondaries market and predictions for GP-led activities in 2025.

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.

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

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