The SEC’s decision to grant Coller Capital and Pantheon permission to shop their secondaries-focused evergreen vehicles to high-net-worth investors could prompt more players to follow suit.
2 min read · 18 April 2024
Impact investor Summa Equity closed Summa Circular, believed to be the first Article 9 continuation fund, in December, breaking new ground for the secondaries market.
3 min read · 13 March 2024
Whatever happens to the SEC rules, the trade group hopes the industry can unite to raise the floor on transparency.
3 min read · 15 February 2024
Updates to how effectively connected income is treated may lead to an easier and more standardised process for secondaries transfers, argue lawyers from Macfarlanes.
4 min read · 15 February 2024
The secondaries market is burgeoning with new entrants and LP interest. Buyers are clamouring for lead buyer status, but does it pay to be hyperbolic if there are contracts to back up the facts?
2 min read · 16 November 2023
Getting a fairness or valuation opinion on a private equity GP-led secondaries transaction is a straightforward, albeit costly task. In credit secondaries, however, the rule change creates a cumbersome burden.
3 min read · 14 September 2023
A footnote in the US Securities and Exchange Commission’s new rules suggests continuation funds structured as cross fund trades won’t be subject to third-party fairness opinion and valuation letters.
3 min read · 31 August 2023
The SEC’s vote this week that makes third-party opinions in continuation fund transactions mandatory was a practice that was already becoming a market norm.
3 min read · 24 August 2023
Clark joins the Magic Circle firm as head of its global funds practice from Goodwin.
1 min read · 19 July 2023
