Some investors are in favour of reducing the frequency of capital drawdowns; many are concerned about the risks of extending loan periods.
3 min read · 31 May 2017
Not having negotiated subscription lines themselves, investors may be unaware of terms that could block sales of their interests, writes Andy Thomson, editor of sister publication Private Debt Investor.
3 min read · 26 May 2017
In this third excerpt from sister publication Private Equity International’s secondaries roundtable, some of the market’s top participants discuss the use of leverage to boost returns.
3 min read · 19 May 2017
The number of leverage providers in secondaries has more than doubled over the last four years, according to the report obtained exclusively by Secondaries Investor.
2 min read · 15 May 2017
Drivers include increasing competition and record high dry powder, according to a report by the Swiss bank obtained by Secondaries Investor.
1 min read · 24 April 2017
Fewer buyers sought IRRs of above 15% last year compared with a year earlier, a survey by advisory firm Cebile Capital has found.
2 min read · 01 March 2017
While more aggressive financing structures such as payment-in-kind notes may be off the table, deals are ongoing, experts say.
2 min read · 20 July 2016
The majority of secondaries and fund of funds respondents to a recent survey by Investec said that while they use debt, they don’t need it to be competitive.
2 min read · 19 July 2016
Using debt to acquire portfolios changes the nature of secondaries investments, according to the head of the firm’s fund investments team.
1 min read · 04 May 2016
High levels of dry powder and high pricing in the secondaries market is forcing firms to use leverage and chase staple deals to make purchases attractive.
1 min read · 25 April 2016
