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Secondaries

private equity, Chris Witkowsky
Every year the secondary market seems to hit another milestone. Last year will be known as the one in which the “7” number was broken. Estimated secondary market deal volume in 2018 vaulted $70 billion, according to two surveys published Jan. 24 by Evercore and Setter Capital. That would be the highest level ever in the […]
Milestone Partners, private equity
Park Hill to help run tender offer on older funds Milestone seeks to enable older-fund LPs to cash out Has had Fund V in market for some time Milestone Partners, a lower-middle-market firm, hired Park Hill Group to help run a process that would enable investors in the firm’s older funds to cash out of […]
Volume weighted more toward traditional LP portfolios GP-led deals continue to take more of the market 2019 deal pipelines look strong The secondaries market went bonkers last year, and the frenetic activity doesn’t look to be slowing anytime soon. Two secondaries advisers have released deal volume estimates so far. Evercore estimated secondary volume in 2018 […]
Panda Power, Panda Energy, private equity
Panda has explored liquidity options for several years Hired Evercore to work on a restructuring Would include all Panda’s older funds Panda Power Funds, an energy-focused firm, is exploring a restructuring of its older vehicles that could include almost $1 billion of investments, sources told Buyouts. The Dallas firm is working with Evercore on a […]
Tom Kerr, Hamilton Lane, private equity
GP-led secondaries create more orderly liquidity options for investors Kerr expects GP-led transactions to grow to 25-30 pct of the market in the coming year Total secondary market transactions expected to near $70 bln for 2018 Tom Kerr is head of secondaries at Hamilton Lane. He spoke with Buyouts about the mainstreaming of GP-led transactions and […]
PSP Investments, Canada, pension fund, private equity
PSP is one of several public systems shopping PE stakes Traditional portfolio sales help drive deal volume Market has been amenable to sellers Public Sector Pension Investment Board is shopping a portfolio of private equity stakes valued at more than $1 billion, sources told Buyouts. PSP is one of numerous public-pension systems selling PE stakes […]
Secondary volume hit $42 bln in 2015: Evercore GP liquidity solutions become more prominent Banks may sell more PE stakes as 2017 Volcker deadline approaches Roughly nine out of 10 secondary market buyers expect deal volume to surpass $35 billion in 2016, according to a recent survey published by independent investment bank Evercore. About 60 percent […]
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