Performance

More and more PE managers are launching continuation funds to hold onto assets longer. How can you make sure your continuation fund is a success for both you and your investors?

Declining multiples spell trouble for deals done in recent years, when valuations were at historic highs, said ex-Ardian secondaries head Vincent Gombault.

Consistent market activity and deep domain expertise can help overcome the challenges associated with integrating continuation vehicles into a broader secondaries portfolio, says Partners Group’s Anthony Shontz.

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.

NAV finance has expanded substantially in the last few years, says 17Capital’s Augustin Duhamel in this sponsored Q&A.

The proposals include the requirement to obtain a fairness opinion on the prices of secondaries transactions.

Blackstone is on track to reach $20bn for its latest flagship secondaries fund, having nearly achieved its target in the space of a quarter.

Large recapitalisations and a rebound in LP portfolio transactions drove real estate secondaries to the highest mark yet.

While GP-led deals managed to retain their dominance over LP deals by a thin margin, both halves are poised for continued growth this year.