GP-Leds

The single-asset continuation fund deal is among many that are keeping secondaries professionals busy and sending the market to what could be record volume levels.

The Paris-headquartered asset manager is looking to extend its hold on a portfolio company within its mid-cap European Expansion strategy, Secondaries Investor has learned.

A study by the bank and the HEC School of Management has also reinforced earlier findings that single-asset CVs perform largely in line with buyout funds, while offering lower return dispersion.

The process highlights the potential use of GP-led technology for longer holds on restaurant chain businesses.

The new designation reflects Schroders Capital's commitment to the increasing GP-led opportunity set, a spokesperson tells Secondaries Investor.

Buyers have explored the deal and at least two firms are understood to have emerged as potential backers.

Around 14% of GP-led market volume in the first half involved growth and venture capital, which was up markedly from the first half last year, according to Lazard’s half-year secondary volume report.

The deal highlights how continuation funds are filling the void in the exit market when traditional exit routes remain subdued.

The pair are working on a further four global co-advisory mandates, Alex Bruce and Immanuel Rubin tell Secondaries Investor.

As the continuation fund market evolves and expands, it is inevitable that some of the assets would fall into bankruptcy.