GP-Leds

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.

The continuation fund is the second time St Louis-based Thompson Street Capital has used the GP-led secondaries market.

The transaction involves five assets from two TJC vehicles, Secondaries Investor has learned.

The asset, BLUESEA Hotels, aims to become the market leader in three- and four-star hotels and resorts in Spain.

There is a 'huge supply/demand imbalance, particularly for larger sized transactions' which is leading to the firm doing this, according to the firm's chief investment officer and CEO.

Connecticut Retirement Plans and Trust Funds wants to further capture attractive sponsor initiated investment opportunities in addition to the ones it sees via its managers.

The CV process places Advent among a group of PE powerhouses that are exploring similar processes for their software companies.

According to mid-year advisory reports, the secondaries market is looking at a potentially record-breaking finish to 2024.

The assets in the process run by the firm formerly known as The Jordan Company 'do not appear to have the ability to generate outsized returns', according to adviser Aon.