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Editor's View

Our in-house take on what news, trends and developments affecting the secondaries market means to its different participants. In these weekly commentaries we stir discussion and prompt debate as well as comment on issues important to market participants in a lively and thought-provoking way.

BEX has done something good; hopefully others will too

Axing carry and management fees for certain investors is a neat way of giving back.
Aerial view of supported hands out together

GPs will be the biggest winners from ILPA’s guidance

Running a fund restructuring can be virgin territory for GPs; ILPA’s latest guidelines will be as helpful to them as it will to its members.
Arrow On An Old Map

Inside ILPA’s upcoming guidance on GP-leds

Secondaries Investor caught up with the industry body’s chief executive Steven Nelson for a sneak peek at its soon-to-be released GP-led secondaries best practices.
buddha japan

What we know about Norinchukin’s $5bn sale

Anyone doubting that Asia could provide meaningful secondaries dealflow should think again.
thumbs up and down

Why emotions are the biggest threat to scuppering a GP-led deal

While GP-led processes can be technically and legally complex, emotions are often the biggest hurdle to closing a deal.

North American public pensions: reluctant leaders

Large North American public pension plans may be fuelling one part of the secondaries market, while pouring cold water on another.

Deals that dance to a different beat

A GP-led deal in the music royalties space shows how adventurous secondaries investors are getting and how readily existing deal types can be applied to new asset classes.
change, shifting

Ardian’s $18bn secondaries mega-fund highlights the shifting GP-LP relationship

The desire of private equity firms to hold assets for longer is creating misalignment with their LPs – and conditions for the secondaries market to thrive.

‘Complex and conflict riddled’, but not all bad

Concerns from a sophisticated institutional investor should be heeded… to a point.
oil pump

The perils of trying to strike oil

News has emerged of an energy GP-led deal that could be worth $5bn; such deals are full of pitfalls.

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