Cebile Capital led an ~$100 million GP-led restructuring of two Method Advisors funds-of-funds. The deal allowed existing investors in the two funds-of-funds to cash out of their stakes in the pools while giving the GP more time to manage the underlying portfolios.
Cebile Capital, the global secondaries advisor and placement agent, announces the closing of a GP-led Continuation Vehicle process for two of Method Advisors’ fund-of-funds vehicles. This unique transaction, worth approximately $100m, offers existing investors in Method Advisors’ two fund-of-funds the option to benefit from an early liquidity option at a market-clearing price set by a two-stage competitive auction process and enabled Method to obtain the additional duration necessary to manage the underlying portfolios to their natural exits. A large, dedicated secondaries group is the new investor in both Continuation Funds.
Sunaina Sinha, Managing Partner of Cebile Capital comments, “We are proud to have partnered with one of the leading private equity fund-of-fund managers in the UK, Method Advisors, to extend the durations for their two top decile portfolios. This transaction can serve as a valuable case study to fund of funds managers, demonstrating that there are liquidity and duration options available to them through GP-led fund restructurings.”
Chris Welch, Managing Partner of Method Advisors notes, “This GP-led process enabled our long-standing limited partners to access liquidity while enabling us the opportunity to continue to manage our portfolios. We are grateful to Cebile Capital for its complex advisory and structuring expertise to achieve this milestone in the market.”
Kirkland & Ellis served as legal counsel to Method Advisors.
About Cebile Capital:
Cebile is a strategic partner to alternative fund managers and a trusted liquidity provider for institutional investors. The firm carries out fundraising on behalf of world-class private equity and real asset General Partners, advising on investor strategy, product development and creation of marketing materials. Cebile also advise buyers and sellers in secondary fund interests, co-investments, direct assets and GP restructurings.