Alignment of Interest

Neuberger PE head keen on ‘mid-life solutions’, flags CV concerns

Mid-life investments can offer a solve to generate liquidity and realisations, stepping into the place of CV deals that can be complicated where co-investors have backed an asset, Neuberger’s head of European PE Joana Rocha Scaff says on the latest edition of PEI Group’s Commitment Issues podcast.

Data Dive: Reading the signals in secondaries sentiment

In this episode of PEI Group’s new podcast miniseries, we analyse the key findings from Secondaries Investor’s inaugural Global Market Survey.

GP-led secondaries: CVs prompt diverging opinions

While the GP-led market is booming, perceptions differ when it comes to rationale, valuations and alignment.

NYU endowment shops small portfolio amid rise in private markets sales

Endowment sales ticked up in the first half of this year to around 15% of overall LP sales, according to Campbell Lutyens’ half-year volume report.

Davis Polk: Retail push can complement traditional funds

There is now proof of concept that institutional and retail products can successfully be managed side by side, say Davis Polk’s Andrew Ahern, Oran Ebel, Christopher Healey and Leor Landa.

Alignment Special: Chasing waterfalls

When dealing with waterfalls, there are tools that can be used to create economic alignment from the outset.

Alignment Special: Tips on engaging with the portfolio company

An incentivised management team is crucial to ensuring ultimate success in GP-led secondaries deals.

Alignment Special: How to address a divergent LP base

Conflicts of interest can arise within the LP base as LPACs act in their own interest, not in the interest of the fund.

Alignment Special: Differing motivations within the GP

For the GP, internal alignment is another opportunity to manage team dynamics. Third parties will want to see that the right people participate in the economics.