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The opportunity surrounding uncertainty

In the latest edition of our Second Thoughts podcast, Pomona’s chief executive Michael Granoff and Proskauer partner Galen Lewis discuss what’s driving LPs to the secondaries market and how uncertainty is impacting investment decisions.

Roundtable: Is secondaries private markets’ most undercapitalised asset class?

Despite a record year for fundraising, growth in the secondaries market has been hampered by a lack of liquid capital.

SI Decade: Will the North American market’s dominance continue?

In episode four of the Decade of Secondaries Investing podcast miniseries, sponsored by Ares Management, Dawson Partners and Proskauer Rose, we look at whether the region’s secondaries market can continue its winning streak.

Manulife: Four reasons why the GP-led market is here to stay

The growth of GP-led secondaries represents a long-term, structural change within private equity, write Paul Sanabria and Jeff Hammer, global co-heads of secondaries at Manulife Investment Management.

Schroders: Don’t overlook the lower mid-market

Secondaries investors can find unparalleled alignment in GP-led transactions with lower mid-market managers, says Christiaan van der Kam, head of secondaries at Schroders Capital.

Proskauer: Pulling in the same direction

As GP-led deals have evolved, so too have the terms designed to create alignment of interest between all parties, say Proskauer’s Jordan Hurwitz and Natalie Scott.

Ares on the quest for liquidity

More opportunities are opening up for buyers as GPs turn to the secondaries market for capital, but they must be selective if they are to achieve strong risk-adjusted returns, says Nate Walton at Ares.

Evercore: The outlook for GP-led secondaries

Access to trophy assets through transparent processes will underpin GP-led growth, say Evercore’s Alex Longden and Fred Stonell.

Jefferies: How to successfully navigate a choppy market

Clear transaction rationale, defendable valuation positioning and a strong show of conviction from sponsors is helping buyers to get comfortable with continuation fund deals in a tough macro environment, says Matt Wesley at Jefferies.

Partners Group on applying a thematic lens to secondaries

Proactively tracking assets across global themes can provide an early edge in continuation fund opportunities, say Partners Group’s Anthony Shontz and Roy Baumann.