Hannah Zhang

Rothschild advised on €2bn of GP-led deal volume last year, including infrastructure continuation fund deals for Ancala Partners and DWS.

The bank has tapped three advisory professionals to join its team under former Eaton Partners exec Stefano Manna.

Here's what you should know about China's booming LP-led market, nascent GP-led market and the challenges faced by international investors eyeing the opportunity.

The preferred equity specialist plans to complete five to 10 transactions annually, with each ranging from $100m-$750m in size.

The deal involves transferring an asset to a continuation fund managed by TRP Capital, a lower mid-market player with no prior engagement in GP-led secondaries.

Virginia Retirement System and the State of Wisconsin Investment Board were among the most active LPs making secondaries investments last year.

Ares Management data, shared with Secondaries Investor, shows deal volume for the asset class fell 21% in 2023 from the record $12.4bn clocked the year prior.

The final close of TPG GP Solutions will be one of the key pillars driving the firm’s growth in 2024, CEO Jon Winkelried said in its latest earnings call.

The RMB fund targets Chinese LPs and aims to hold its first close this year.

Lazard expects deal volume this year to approach or exceed 2021 levels as LPs and sponsors seek innovative liquidity options in the secondaries market.