GP-Leds

Investment committees are a taking a closer look before rolling into a CV amid rising deal volume, said panellists at IPEM Global in Paris.

In respect of their longstanding infrastructure portfolios, Abu Dhabi Investment Council is a keen trader of secondaries but the Swedish insurer isn’t, explain infra specialists Saoud Al Mulla and Hans Forssman.

While there have been instances of controversial GP-leds moving through the market, advisers continue to work in real time to improves practices, conference attendees at IPEM Global heard.

The alternatives giant led a consortium of investors on the approximate €1.7bn acquisition of ITP Aero in a carve out from Rolls-Royce in 2022.

Focus is key when considering software exposure across both LP-leds and GP-leds, as valuations and exits for the sector remain uncertain, panellists said at the UK Private Capital Summit 2026.

Golub Capital launched its GP-led strategy last September, pledging to commit $1bn.

While an increasing number of LPs are embracing CVs, they remain wary of overreliance on the structures, said panellists at IPEM Global in Paris.

Being a ‘co-operative partner’ during LP-led transactions can have hidden benefits, a private equity GP tells PEI Group’s Commitment Issues podcast.

Continuation vehicles are succeeding because they’re solving real problems for LPs.

The CV for a Netherlands-based industrials asset will see around €1bn-€1.2bn of new equity with a ‘significant amount’ of rollover, PEI Secondaries Investor understands.