Rod James
Rod James is a reporter with Secondaries Investor and also contributes to sister title PrivateEquityInternational.com. He is based in the London office. Prior to PEI, his roles included a stint as a freelancer covering fintech and transaction banking, CEEMEA capital markets reporter with EMEA Finance magazine, and editor of the Latin American political and economic risk team at IHS Global Insight.
Europe-focused Springwater will invest the funds in opportunities brought about by market dislocation.
What was an exception is now mainstream, with buyers using leverage as bridging finance and to boost returns, according to Investec.
The alternatives manager has already raised more than $1bn of capital to invest in senior debt secondaries through two May fund closes.
The booming secondaries market is reflected in this year's survey, with several respondents closing on twice the deal volume recorded in pandemic-hit 2020.
Secondaries advisers are adjusting to tricky market conditions after filling their boots during a record-breaking 2021.
The placement agent has formally launched a secondaries advisory business focused on credit and infrastructure, having soft launched two years ago.
The Chicago-based manager will target opportunities where it has an informational advantage that allows it to profit from 'value arbitrage', according to secondaries head Jeff Akers.
This is the second departure in two months from the secondary advisory team at Kroll, which is considering whether to remain in the market.
A market downturn, diverging views on valuations and ‘risk off’ attitudes are causing many GP-led deals to be repriced.
The process on a software company owned by Banneker Partners, led by a Vista co-founder, was to be priced off a Q4 stake sale until market sentiment turned.