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LP Sales
Public pensions drove the LP-led market in H1, as allocation pressures led them to sell despite worsening price dislocation, Campbell Lutyens found.
The firm has seen several examples of transactions that it previously passed on being relaunched with refreshed pricing.
The sale, valued at around $6bn by net asset value plus unfunded commitments, ranks among the largest to ever trade.
Energy and infrastructure secondaries accounted for 6% of the $134bn in deal volume last year, according to Evercore.
A significant number of existing investors in GLP’s first China development fund have rolled into its new income vehicle.
Many public institutions in the US are exploring portfolio sales thanks to a confluence of factors that has left them at, or above, their private equity allocations.
LPs are beset with a glut of requests for re-ups from their existing managers, in many cases at a much quicker pace than ever before.
With a rapidly growing market in an increasingly volatile environment, secondaries investors need to creatively focus on the basics, says chief executive Michael Granoff in this sponsored Q&A.
The firm has held the final close and first close on its latest venture capital and private equity secondaries funds, respectively, according to chief executive Scott Hart.
There is growing speculation that secondaries trading could surpass primary fundraising, as it has in the public markets, write Rod James and Amy Carroll.