Secondaries valuations have reached a record high; will they keep climbing in 2015?
The ICG-NewGlobe development highlights continuing shifts in the secondaries market.
Details that emerged this week around Montana’s recent secondaries sales make clear why other US public pensions are increasingly following suit.
Reaching the €100m hard-cap for this year’s annual offering took just three months.
The city’s police and fire pension has lagged on deploying its private equity secondaries allocation.
Landmark estimates $64bn of dry powder for secondaries – not that much in the scheme of things, but a great deal more might not be healthy either.
Will we start to see more secondaries investors buying and selling infrastructure and real assets fund interests?
Ardian has invested an eye-catching $8bn on secondaries deals in the past year – and could possibly prove that high prices won’t prevent GPs from finding value for investors.
Why aren’t more fund restructurings happening in Europe?
In the latest change to the secondaries advisory landscape, UBS is staffing back up – and interestingly taking a cue from some of the market’s smaller brokers.