GP-Leds

MassPRIM promotes within to build GP-led secondaries programme

The system recently changed its policy to allow for quick commitments to continuation funds.

Accel-KKR turns secondaries buyer via German continuation fund deal

The buyout and growth firm is the lead buyer in the GP-led deal – the latest example of a non-secondaries firm backing a secondaries deal.

GP-led activity will drive PE market deal volumes in 2024 – panel

Dealmaking is due for a comeback this year with the return of financial sponsors and more demand for liquidity, according to a panel at IPEM Cannes.

GP-led deals surged through second half with secondaries set for big year – Jefferies

Strengthening pricing drove activity, helped by stabilising interest rates and an overall improvement in economic outlook.

Maine pension seeks flexibility to roll into continuation funds

Many public pensions face governance issues when considering continuation fund opportunities.

Top five secondaries deals of 2023

Both LP-led and GP-led deals made it to the list this year as market participants seek innovative ways to access liquidity.

Lazard: Pricing in 2023 caused a trade-off between LP-leds and GP-leds

Wider discounts in the LP portfolio market drew buyers to fund stake transactions over sponsor-initiated deals in H1, according to Holcombe Green, global head of private capital advisory at Lazard.

The year that continuation funds broke new ground

In 2023, continuation funds spread to geographic markets anew and niche strategies such as impact funds, while increasingly involving complex situations and assets.

Summa breaks new ground with €550m secondaries deal

Quilvest Capital Partners and Unigestion led the transaction, which is believed to be the first Article 9 continuation vehicle.