Secondaries transactions in the asset class often bring more direct and indirect tax issues than those in private equity, write Macfarlanes' James McCredie and Sarah Shucksmith.
Sponsors or GP-led secondaries processes should take care in the language they use to explain why they want to hold an asset for longer, writes Thiha Tun, a partner at Dechert.
Institutional investors in real estate are becoming increasingly informed on the benefits of manager-led secondary deals in particular, writes Lazard's James Jacobs.
Real estate could be the perfect asset class for GP-led secondaries, despite key legal and tax issues, says Steven Cowins, co-chair of Greenberg Traurig’s real estate fund practice.
Attracting the best candidates is as challenging as winning a deal, but firms can put those same strategies to work in their recruitment processes, says PER's James Ellis.
Justin Johnson and Chad Rucker of valuations and fairness opinion provider VRC take a look at the regulator’s aims for continuation funds.
There is a universe of potential deals in asset classes such as infrastructure not suited to typical secondaries funds, says Daniel Roddick, founder of Ely Place Partners.
In an extract from a whitepaper aimed at LPs, Tradition's advisory team discusses the dynamic between bids, NAVs and public markets, and what it means for sellers.
Secondaries buyers may find themselves on the hook for sellers’ liabilities. They should look to protect themselves, says Angus Marshall of CFC Underwriting.
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.