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Secondaries firms are more selective and may use a different discount rate when pricing assets in emerging markets, according to Partners Group.
GPs aren't giving up on this nascent market and many have bolstered their teams in the last 12 months.
The number of secondaries GPs seeking capital from Latin American LPs has skyrocketed in the past five years.
The Colombian division of Skandia Old Mutual isn’t investing in secondaries right now, but anticipates value in the secondaries market going forward.
The London-based secondary advisor and placement agent was founded in 2012.
Aqua Capital closed its agribusiness and food fund, AGF Latam, on $173m in October 2013.
PineBridge Secondary Partners III has raised about $60m toward its $500m target, in the past year.
Secondaries firms face challenges in India getting GPs and LPs to agree on terms, but a revival of the country's private equity market could be on its way.
The New York-based firm has already deployed 40% of Fund III's capital in 10 transactions, four of which have been with banks and financial institutions.
A Secondaries Investor poll has revealed that the majority of readers think that Brazil will be first emerging market to mature.