Secondaries

Going beyond standard commitment expectations in continuation fund transactions can help sponsors demonstrate alignment.

Private equity secondaries will be a $500bn market by 2030, said the firm's founder and chief investment officer Jeremy Coller.

Iron Road Partners’ Igor Rozenblit – former co-head of the SEC's private funds unit – details concerns and red flags the regulator will be looking for following the passing of its private market rules last year.

Offering will give LPs – including those who act as GPs of secondaries funds and fund of funds – and fund administrators asset-level data.

Panellists at PEI Group’s NEXUS 2024 summit discuss the blurring of the lines between secondaries and co-investments.  

Continuation vehicles across different geography, size and industry of underlying assets have generated similar return multiples.

Panelists say fundraising growth can boost bidders and cut pricing spreads.

Driving activity was strengthening pricing, which was helped along by a stabilization in interest rates last year, along with an overall improvement in economic outlook.

LP-led deals drove the bulk of volume last year and accounted for 55% of total trading, according to data from the investment bank shared exclusively with Secondaries Investor.

Continuation vehicles made up around 9% of total PE distributions in 2023 amid sluggish M&A and IPO markets, according to data from Baird.