Pricing

Partners Group's Dmitriy Antropov discusses the strength of asset pricing, the best ways to source deals and the skill set required for due diligence in this third extract from The Secondaries Market.

Pricing has reached 'unusually high levels', according to the investment firm's chairman.

Deal value in the secondaries market dropped slightly last year, but billion-dollar transactions in the pipeline should ensure a better 2017.

Buyers are focusing on simply deploying the large amounts of dry powder available rather than seeking strong financial returns, according to the intermediary.

Weak IPO and M&A activity in Q3 will lead to average high bids falling by as much as 9 percentage points, according to a report obtained exclusively by Secondaries Investor.

Secondaries funds themselves were among four strategies that had rises in pricing amid overall drops during the period.

Secondaries Investor has been in the Big Apple talking to market participants. Here’s how things look from North America.

Average high bids fell to 91% of NAV in the first quarter as buyers sought younger funds, according to data from PEFOX.

Opportunistic sellers are adding newer vintage funds to their portfolio sales in order to attract better pricing for the bundles, according to a report by the investment bank.

Investors are ever more selective and focusing on higher-quality assets, while other funds struggle, according to a report by the bank's private fund group.