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Tail-End Funds
Speaking at a private equity conference in London, Adams Street Partners' Pinal Nicum said there were three elements to executing a successful restructurings deal.
The Blackstone secondaries unit and Willowridge have both picked up stakes in Doughty Hanson's tail-end single-asset third fund.
Stapled deals and restructurings can fall through for many reasons, but it’s often related to pricing that’s too low and LPs who don’t feel the need to sell.
The Switzerland-based firm has bought three stakes in a fund managed by IK Investment Partners, which topped a recent list of most in-demand European mid-market LBO managers.
Secondaries deals are being disrupted by the fact that most of the world’s major public stock indices have fallen between 3 to 8 percent this year.
Hollyport continues its tail-end fund stake strategy with the purchase of five interests in IT and healthcare-focused vehicles.
The private equity and real estate secondaries firm has bought at least three other stakes in TDR Capital II.
The majority of zombie funds focus on North America, with buyout as the main strategy, according to PEI's Research and Analytics division.
The London-based tail-end fund specialist began fundraising for its latest dedicated secondaries fund in June.
The London firm is targeting twice as much as it raised for its previous secondaries fund.