Guest Writer

Merely trading LP positions won’t address deep problems of funds that haven’t raised new capital for at least eight years, explains Joncarlo Mark, founder of Upwelling Capital Group.

Although high start-up valuations are making direct secondaries investments more challenging, they are also making the exit environment more attractive, explains Zach Abrams, managing partner at Stratim Capital, which provides liquidity to shareholders and venture capital investors in privately-held companies.

In an increasingly crowded transactions market, the competitive edge is shifting to buyers with efficient transaction processes. Fadi Samman, a partner in the investment management practice at law firm Akin Gump, offers his tips for what investors should consider.

With a degrading macro and a stock market plunge, investors may have to face some old daemons such as the denominator effect, which may reappear on CIOs’ agendas, explains Thomas Liaudet, a partner at Campbell Lutyens' secondary advisory team.

Fund restructurings have entered the mainstream, which means GPs need a better understanding of the legal and compliance risks involved in the strategy, write Gibson Dunn lawyers Candice Choh and Shawn Domzalski.

The secondary market is now becoming well established. This represents a critical step in the evolution of the private equity market that will transform the way investors think about funds of funds, explains Benoit Verbrugghe, member of the executive committee and head of Ardian US.