Pricing

All hands on deck for 2025

The secondaries market anticipated a record year for activity in 2024. Don’t expect a slowdown over the coming 12 months.

Buyers predict record volume in 2024, increased pricing into 2025 – William Blair

Secondaries investors expect pricing for GP- and LP-led deals to mostly increase or stay the same, with few expecting decreases.

Blackstone’s Perry: Secondaries volume could reach $170bn by 2025

New entrants and pricing are driving deals and could spur record volume, global head of Blackstone Strategic Partners Verdun Perry tells Secondaries Investor.

Are semi-liquids more competitive on pricing? The answer is nuanced

Research suggests evergreens can pay 6 points higher on average for LP portfolios than closed-end funds – findings that may not fully reflect all market dynamics.

Opportunity for ‘significant’ LP selling activity in coming months – Jefferies

LP-led deals accounted for $40bn of the $68bn of global secondaries volume seen in H1 2024 as bid-ask spreads narrowed.

BNP insurance arm looks to offload portfolio worth up to €800m

The €255bn unit of French financial giant BNP Paribas Group wants to sell a bundle of private equity and infrastructure stakes, Secondaries Investor has learned.

APG pulls plug on multibillion-dollar portfolio sale

The Dutch pension giant had brought a portfolio worth $2bn-$3bn to market, Secondaries Investor reported in June.

China RMB secondaries seeing discounts of up to 50%, says Ham Lane

Growth equity assets are seeing ‘pretty good’ bargains, yet the mismatch in valuation expectations may hinder dealmaking.

Blackstone’s Gray sees potential widening discounts on LP portfolios

Jonathan Gray’s contention, that discounts on LP portfolios could increase, runs contrary to the trend this year of strengthening pricing.

Valuation certainty and surge in dry powder drives pricing higher – Campbell Lutyens

There have already been some notable improvements in LP-led pricing in Q3 this year, according to a buyer survey from the advisory firm, shared with Secondaries Investor.