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Secondary Market Intermediaries: What Do They Do?

There has been a lot of recent coverage in peHUB about rising interest in the secondary market, and a rising interest of bankers looking to become secondary market intermediaries. Some have argued that what the market needs is more buyers and not more intermediaries, but there hasn’t been a lot of discussion of what intermediaries […]

Is the Gig Up?

On an annual basis, Probitas Partners conducts a Survey of institutional investors in order to gauge their opinion on key trends in the private equity market. We recently contacted approximately 4,000 institutional investors and received 359 individual responses from a mix of Pension Plans, Funds of Funds, Endowments & Foundations, Family Offices and Financial Institutions. […]

The Right Way to Right Size?

Though I find myself usually agreeing with Professor Primack, this time I think he has it wrong on the middle market carry issue, both on a couple of points he made as well as some items he passed over. Mega Funds as a threat? In Dan’s hypothetical discussion he has the middle market GP arguing […]

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Commercial Banks and I-Banks: Not a Natural Fit

I believe that there are natural reasons for commercial banks to get out of private equity investing: Commercial bank on-balance sheet capital is quite different from that of I-banks, and the issue of conficts for I-banks is real. First some perspective – I worked for a commercial bank in the US for 15 years, the […]