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.
PTP rules can prove a real pain to LPs that want to sell fund stakes. It’s worth GPs doing all they can to get around them.
Record-high transaction volumes mean that under US tax laws some LP stake transfers will not be permitted until 2022, according to a report by intermediary NYPPEX.
The Zug-headquartered firm has raised $180m so far to invest in small, complex secondaries deals.
The Hong Kong secondaries firm, which raised $35m for its debut vehicle, mainly buys LP stakes in Asian and Israeli VC funds.
Early shareholders in the technology company sold to a consortium led by HPE Growth Capital via a direct secondaries deal.
Returns for secondaries funds rose slightly on a quarterly basis, but the strategy has performed below the All Funds benchmark across all periods, according to data from the Institutional Limited Partners Association.
Credit and distressed funds accounted for 20% of GP-leds deals in H1, according to data from Greenhill.
Evercore's half-yearly report highlights a notable decline in the proportion of LPs choosing to sell in GP-led processes. This could be indicative of profound, longer-term changes.
Leith Moghli joins from Reed Smith and focuses on secondaries transactions, fund formation and fund incentive arrangements.
The firm is targeting $600m for Greenspring Secondaries Fund IV, having sought $325m for its 2017-vintage predecessor.