Writing the biggest cheque doesn’t necessarily mean you structured the transaction – or bothered to have a beer with the counterparty to get to know them.
The GP-led market is growing at record speed, making insightful due diligence and investment discipline more important than ever, say Boriana Karastoyanova, Philipp Patschkowski and Ben Perl in this sponsored Q&A.
New types of transactions are emerging that stretch the definition of secondaries in what is a deceptively large and growing market.
These transactions bring advantages for LPs, GPs, management teams and secondaries buyers, say partners in Pantheon’s global secondaries team in this sponsored Q&A.
By making GP clawbacks gross of taxes, the new rules could lead to the resurgence of the archaic original American waterfall.
A robust process is vital to any GP-led transaction, say Proskauer’s Howard Beber and Warren Allan in this sponsored Q&A.
Sponsors are increasingly turning to GP-led deals to manage their portfolios and more capital is needed to meet growing demand, says Scott Humber at Landmark Partners, an Ares company, in this sponsored Q&A,
Sceptics says concentrated GP-leds are an expensive way of doing co-investments; the Canadian pension believes the two markets address different risk/reward profiles.
Pamplona Capital Management's decision to 'redeem' holdings in its funds owned by an LP with ties to sanctioned Russian oligarchs shows stake disposals can come in unexpected ways amid the Ukraine crisis.
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.