Guest Writer
Appetite for secondaries rises as more investors recognise it as way to increase exposure to real estate, according to James Jacobs, head of real estate for Lazard’s private capital advisory group.
Mark Benedetti and Vladimir Colas, the co-heads of Ardian US, explain what is fuelling the surge of interest in infrastructure secondaries.
The rise of GP-led secondaries is raising interesting questions about the level of returns LPs should be expecting, say Investec Fund Solutions' Ian Wiese and Michael Zornitta.
Once the domain of private equity, the secondaries industry is now gaining momentum in infrastructure, debt and real estate, says Northleaf managing director Mike Flood.
Last year's transformative year is creating many market opportunities, according to executives from the advisory firm in this sponsored Q&A.
The National Security and Investment regime could cause uncertainty and significant administrative burdens for investors, write legal experts from Hogan Lovells.
Potential growth in the sector is hard to predict and will be driven by the ability of participants to keep devising new solutions, writes Daniel Roddick of Ely Place Partners.
A clear rationale and early engagement with LPs can help overcome the complexities involved in GP-leds, say Akin Gump Strauss Hauer & Feld partners Aleks Bakic, Fadi Samman and Daniel Quinn.
The traditional 10-year fund life hasn't changed but GPs want to hold assets for longer. That's where secondaries come in, says the firm's Barry Miller.
There is an art to managing the contrasting cashflow profiles of traditional LP and GP-led secondaries, says Charles Smith, chief investment officer and managing partner at secondaries firm Glendower Capital.