Single Assets

Over 95% of LPs in Gainline’s original fund housing the asset elected to take the liquidity option provided to them in the transaction, PEI Secondaries Investor understands.

About 20% of Carrick Capital Partners’ Fund II LPs opted to roll their equity into the $600m continuation vehicle, says co-CEO Jim Madden.

While continuation vehicles present an interesting opportunity for fund finance, concentration risk and a reluctant investor base pose a challenge.

Providence Equity Partners has closed a $1bn+ CV for 365 Retail Markets, a company it acquired nearly six years ago, PEI Secondaries Investor has learned.

The GP-led market will become ‘indistinguishable’ from the sponsor-to-sponsor market over the next five years as PE firms seek to gain access to companies via CVs, one 2026 Next Gen Leader says.

New market entrants are seeking to pre-empt auction processes to ‘differentiate themselves’, according to Lazard’s Kevan Comstock.

Blackstone Strategic Partners anchored EQT’s new AI Infrastructure Fund. Once again, secondaries has created a blueprint for loftier goals.

The process comes three years after Onex first moved the tax services provider into a single-asset continuation fund.

Recruitment software platform Talentech has already been the subject of a CV, having been moved into a multi-asset vehicle by joint owner Verdane earlier this year.

The investment manager for Denmark’s Novo Nordisk Foundation put capital into a private equity continuation fund in Asia last year alongside KKR, Amit Kakar tells Secondaries Investor.