GP-Leds

The GP-led deal by Norvestor Equity comes during a slowdown caused by a stubborn gap between the pricing expectations of buyers and sellers.

Andrew Hawkins becomes vice-chairman amid a raft of changes at the listed manager's Strategic Equity secondaries unit.

A fund’s LP base will respond in varying ways to an organised liquidity option; understanding how alignment among LPs can differ is crucial.

The deal was to be priced off the sale of a minority stake software business Medius to Advent but was negotiated down in line with falling public markets.

TR Capital's Colin Sau told delegates at Wednesday's HKVCA China Private Equity Summit that GPs are favouring domestic liquidity routes for certain industries.

Mid-market-focused DC Advisory is adding secondaries to its M&A, restructuring, capital raising and GP stakes businesses.

Big financial institutions are increasingly looking for ways to expand into secondaries advisory to help meet the demand of the growing market.

Buyers are hopeful that market conditions will give them greater power to dictate the terms of GP-led deals without discouraging sponsors from coming to market.

Latham & Watkins has hired a Kirkland & Ellis partner to help boost its secondaries capabilities.

While initial secondaries volume estimates point to a record first half, expectations for full-year 2022 may have to be revised downward.