GP-Leds

VCs mull the relative attractions of IPOs and secondaries

Will we finally see a wave of IPOs this year, or will VC GPs have to turn to the secondaries market to deliver liquidity to their investors?

LPs expanding into more diverse infra secondaries strategies

Narrow discounts mean infrastructure remains a first port of call for secondaries sellers.

Hayfin anchors €155m Spanish healthcare CV

Spanish manager Alantra has closed a continuation vehicle for its portfolio company Health in Code, with 25% of the capital earmarked for follow on investment.

Blue Owl’s debut GP-led strategy closes on more than $3bn

The platform’s close marks the second notable debut GP-led strategy to close this year after Leonard Green closed on more than $3.6bn last month.

Coller leads on $1.3bn Ares credit continuation vehicle

The firm, which EQT recently agreed to acquire, has led on multiple multibillion-dollar credit CVs over the past several months.

StepStone eyes first closes for flagship, debut GP-led fund by H1 2026 – updated

StepStone’s live secondaries fundraising also includes vehicles dedicated to infra and VC, executives said on the firm’s recent earnings call.

Mosaic transactions rose in 2025 amid heightened market volatility – Greenhill

Buyers became more selective and ultimately bid on LP-led deals for GPs and funds they knew best, according to Greenhill’s Bernhard Engelien.

The return of the zombie fund

Pressures in private equity continued in 2025, with fundraising dipping by 17% year on year in 2025.

DW Healthcare runs process to extend hold over animal pharmaceuticals business

While some participants have described secondaries activity as somewhat subdued in the early part of the year, numerous deals continue to work through their processes that had been launched last year.

GP-led specialist Timber Bay closes third flagship fund on $281m

The GP-led-focused fund is more than a quarter invested and will target lower mid-market deals in North America.