Secondaries
Secondaries Preview: Strong LP stakes dealflow, strategy specialisation to come in 2023
With some managers overexposed to single-asset GP-led deals, secondaries GPs are taking stock of opportunities for next year
DC Advisory launches GP Secondaries practice with hire from Elm Capital
Michael Wieczorek will head the new practice, leveraging synergies with DC's other sponsor mandates
Pantheon eyes second GP-led secondaries fund
Predecessor vehicle in the Secondary Opportunities strategy raised USD 624m in 2021 and has a two-year investment period
Second-hand: could continuation vehicles become ‘SPACs of 2022’?
As the pace of secondary fundraising and deals gains momentum, some challenges start to arise
GP Profile: Tyrus Capital plans secondaries deployment drive
Mature and tail-end secondaries opportunities on the rise with motivated sellers seeking to organise their portfolios, Gunter Waldner tells Unquote
Flexstone gears up for new secondaries fund
Filing for new vehicle follows GP's promotion of head of secondaries last month
Adelis raises continuation vehicle for SSI Diagnostica
New fund, with StepStone as lead investor, allows infectious test manufacturer to buy US peer TechLab
StepStone Group gears up for next Tactical Growth Fund
Predecessor primary, secondaries and co-investment vehicle held a final close in 2021 on USD 690m
Novum places MMC Studios in continuation fund
New vehicle will allow German GP to complete wind-down of Fund I; DWS Private Equity added as anchor investor
Unigestion holds EUR 900m final close for fifth secondaries fund
Fund is more than three times the size of its predecessor and is more than 50% committed
Secondaries GPs expect record 2022 – Investec
Fifth Secondaries Market Report also reveals that 97% of secondaries investors are participating in GP-leds
FirstAvenue appoints Chronias as capital solutions group head
Nick Chronias will lead the firm’s focus on private credit and private infrastructure secondaries
Equistone chooses continuation fund route for Sicame
GP had considered ownership options for the electricity distribution products and services provider
LPs' net returns highest since financial crisis – Coller Capital
Secondaries specialist’s Summer 2022 Barometer shows that half of LPs want to increase their allocation to alternatives, with 91% still committing to PE first closes with incentives
Silver Investment forms continuation vehicle for PTF
Selling investors have made returns of 6x their original investment in the precision parts producer
ICG heads for secondaries fund close, new strategy launches
GP plans to launch specialised life sciences and US PE strategies depending on market conditions
Re-Pie to raise single-asset fund for Muslim fashion retailer
Turkish GP will onboard investors to the fund until 31 May; proceeds will back Modanisa’s expansion
Glendower eyes new secondaries fund
London and New York-based secondaries firm was acquired by CVC Capital Partners in 2021
Pamplona to liquidate LetterOne-backed funds, to sell LP stakes in cut-off process
GP to begin formal wind down process on three funds after sanctions hit the LP’s Russian backers
Equistone considers moving Sicame to continuation fund
GP is also studying a potential refinancing of the French electricity distribution products and services provider
BEX Capital raises USD 765m for Fund IV
Secondaries fund-of-funds remains open for no-fee, no-carry investments from NGOs and non-profits
Ufenau moves Corius and Altano to continuation fund
Bought in 2017, the dermatology and vet groups have been transferred into the Swiss GP’s third continuation vehicle
GED completes Vitro exit in single asset vehicle deal
GP reaps gross return of 4.0x invested capital and 38% IRR; deal follows sale of Vitro subsidiary to trade in January
BlackRock eyes new Secondaries & Liquidity Solutions fund
Strategy makes global mid-market secondaries deals and provides liquidity at GP level
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