Hannah Zhang
Details of how the firm's secondaries funds have performed have been disclosed in documents prepared for a US public pension.
Tokenised secondaries funds are a great match for first-time investors in private markets, says Securitize co-founder Jamie Finn.
The deal highlights how continuation funds are filling the void in the exit market when traditional exit routes remain subdued.
The $200m deal is one of the larger energy-focused multi-asset CVs that have closed in the secondaries market.
The institution wants to understand “how deep the private credit secondaries market is” after seeing stellar returns from PE secondaries, senior portfolio manager John Mogg said in a recent advisory council meeting.
The transaction involves five assets from two TJC vehicles, Secondaries Investor has learned.
The firm says it has become the first qualified matching service where investors can electronically sign essential fund transfer documents to complete limited partnership interest transactions.
The CV process places Advent among a group of PE powerhouses that are exploring similar processes for their software companies.
The $257bn pension has been seeking alternatives to secondaries sales to avoid taking large discounts in such transactions.
Secondaries funds can deliver outperformance compared with PE buyout funds due to their diversification and asset-screening processes.