GP-Leds

The firm was best positioned to know the asset well, which helped inform its ability to set an appropriate price, according to Kian managing partner Kevin McCarthy.

A recent GP-led process that came across our desks suggests the collaborative nature of the secondaries market is alive and kicking – for now.

The transaction has been backed by capital from long-term yield-oriented institutions and not traditional secondaries firms.

Pantheon took the lead on SMBC’s secondaries transaction to seed a private credit fund.

The Nordic PE firm, which was among the first private markets managers to embrace ESG, has raised €588m to acquire two assets from its fifth flagship fund.

Secondaries Investor reported in June that the technology, industrial and consumer-focused firm was working with Evercore on a transaction.

Co-advisory mandates have become an increasingly common trend in continuation fund deals.

ICG Strategic Equity Fund V has already raised more than its $6bn target.

Co-investment stakes included in GP- and even LP-led secondaries have become more prevalent as even direct investing LPs seek liquidity in the slow exit environment.

The single-asset continuation fund deal, which is around $400m-$625m in size, is in the process of closing, Secondaries Investor understands.