Clear transaction rationale, defendable valuation positioning and a strong show of conviction from sponsors is helping buyers to get comfortable with continuation fund deals in a tough macro environment, says Matt Wesley at Jefferies.
Proactively tracking assets across global themes can provide an early edge in continuation fund opportunities, say Partners Group’s Anthony Shontz and Roy Baumann.
A fairness opinion from an independent provider will offer greater assurance to all parties in a GP-led deal, say Stout’s Kim Randolph and TJ Hope.
Macro conditions are prompting a broader array of financing mechanisms in GP-led deals, which could help catalyse greater market adoption, say Investec’s Stuart Ingledew and Sharon Thandi.
Increasing specialisation in the GP-led secondaries market is bringing evolving opportunities for investors, say Pantheon’s Amyn Hassanally and Charlotte Morris.
Deal volumes are likely to pick up through 2023 as pricing uncertainty dissipates, says Jonathan Abecassis at Credit Suisse.
Availability of capital is the main challenge holding back explosive growth in the GP-led secondaries market, say PJT Partners’ Dayan Abeyaratne, Brian Levine and David Perdue
Today’s secondaries technology can provide flexible solutions for GPs and LPs during times of market turmoil, say Mary Lavelle, Daniel Quinn and Fadi Samman at Akin Gump Strauss Hauer & Feld.
Times of uncertainty offer the buyside a window of opportunity, while sellers can benefit from liquidity, says Miguel Zurita, a managing partner at AltamarCAM Partners.