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Repairing pre-crisis partnerships is a $100bn market, but the technical challenges are considerable and best practice remains a work-in-progress.
Dover Street VIII has acquired interests in Apollo Investment Fund VII, Carlyle Partners V and KKR 2006 Fund, among others.
An overwhelming majority of limited partners have been involved in at least one fund restructuring in the past two years, according to a survey conducted by Sixpoint Partners.
Think you know the difference between a fund recap and a restructuring? Your peers might not.
A group of secondaries firms purchased LP interests in two special situations funds for a single-digit discount to net asset value.
Direct secondaries firm Nova is among four final bidders that would recapitalise Fenway’s 1998-vintage Fund II and 2006-vintage Fund III.
Perseus’ five legacy funds finally have a new owner in distressed investment firm Centre Lane, giving longstanding LPs a liquidity option. But it wasn’t your average secondaries deal.
The deal, orchestrated by Cogent, will let Perseus finally wind down operations.
The transaction comes months after Lexington Partners and Newbury Partners led the restructuring of GMT's $365m Fund II.
Proskauer partner Sean Hill said this week that fund recaps will become a more common strategic management tool.