Hannah Zhang
LP-led deals accounted for $40bn of the $68bn of global secondaries volume seen in H1 2024 as bid-ask spreads narrowed.
Martin Longchamps, head of private equity at the $319bn Canadian giant, discusses how secondaries sales helped bring the pension's PE allocation back on target.
The firm is seeking $500m for a dedicated GP-led vehicle which has the potential to deliver enhanced returns.
Details of the strategy, including that it will target a balance of continuation vehicles and LP-leds, come four months after Secondaries Investor reported the platform was to launch a product.
About 20% of Industry Ventures Partnership Holding VII will be dedicated to purchasing LP stakes in venture funds, senior managing director Roland Reynolds tells Secondaries Investor.
The deal is in the early stage and marks Clearlake’s continued efforts to build up its single-asset CV programme.
Details of the fund's target and fundraising update, as well as expected performance and fees, were disclosed in US pension documents.
Such alternatives could be better options than selling fund stakes if LPs must take massive discounts, according to the $251bn pension's senior investment officer John Bradley.
The eighth edition of our law firm survey shows top law firms advising on a collective $856bn of transaction volume, a record high amid a booming secondaries market.
The pension giant is understood to be looking to offload LP stakes valued between $2bn and just over $3bn.