Secondaries

The showdown between Dyal and some of its portfolio companies is a headache for LPs, some of whom find themselves enmeshed in a web of conflicts.

The law firm advised on more than $57bn-worth of secondaries transactions last year and represented GPs including Audax Group and Clearlake Capital Group.

Many companies need extra time and capital to continue making add-on acquisitions, according to the bank's head of secondaries Nash Waterman.

Pent up demand among secondaries buyers and LPs’ desire to manage their portfolios in the wake of covid-19 points to healthy transaction volumes in the year ahead.

A company subject to a secondaries transaction could have at least five layers of leverage acting on it, from LBO debt up to a fund-level capital call facility. We investigate the test posed by the coronavirus to these layers, each with their own dynamics.

Two senior executives from Aberdeen Standard Investments say GPs looking for support capital are not concerned about its source.

The firm closed Fund III in April on $450m as well as an overage fund on $150m to take advantage of excess opportunities beyond the main fund's pacing.

In the firm’s Q2 earnings call, Jonathan Gray pointed out where in private markets he thinks investment from defined contribution benefit plans will get directed to first.

One in 10 general partners plan to seek secondaries processes due to the covid-19 pandemic, a survey by sister publication PEI has found.