Tender offers represent a reliable way for secondaries buyers to provide liquidity to private company shareholders, according to a report by Bryan, Garnier & Co.
ICG Strategic Equity Fund V has already raised more than its $6bn target.
Two deals made up nearly half of the firm’s total secondaries investment volume last year.
The largest proportion – $400m – went towards private equity secondaries, according to the firm's Q2 earnings presentation.
The fund, which is seeking $750m, has already committed over $450m to new investment opportunities, according to documents prepared for a MWRA Employees’ Retirement System board meeting.
Fundraising in the first half dipped year-on-year to $34.5bn, with Hamilton Lane's $5.6bn close on Secondary Fund VI marking the largest raise in H1 2024.
There's a new type of entrant to the secondaries buyside, and it's not your typical buyout-come-secondaries firm.
The firm hopes to surpass the size of its previous secondaries flagship, which closed on $22.2bn in 2023.
Tim Henn, who has joined from JPMorgan as head of private equity secondaries, tells Secondaries Investor the firm plans to invest in deals with GPs it knows through its platform.
The firm has appointed five managing directors across its secondaries and placement agent businesses.