25 Jun

GP-led secondaries: Permanent revolution?

Private equity firms are increasingly turning to the secondaries market as a means of delivering liquidity to investors and extending ownership of their most prized assets. While limited activity in conventional exit channels to some extent facilitated this innovation, it seems to be here to stay – in the form of continuation vehicles, portfolio strip sales, and fund restructurings. Even as LP comfort and familiarity with these structures grows, alignment of interest remains paramount.

  • Will GP-led deals propel secondaries volume to another record year in 2025?
  • Has there been a bifurcation in asset quality or transaction quality?
  • Are continuation vehicles suitable for every kind of fund strategy?
  • What are the challenges that have kept GP led secondaries activity low in Japan?
  • What is the next step in private equity’s embrace of permanent capital?

 

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  • Speakers keyboard_arrow_down
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    Justin Niessner Associate Editor, AVCJ Mergermarket
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    David Azcue Partner Simpson Thacher
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    Jolie Chow Managing Director PJT Partners
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    Brian Musto Managing Director Goldman Sachs Vintage Strategies Bio
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    Nash Waterman Managing Director, Global Head of the MS Private Equity Secondaries team Morgan Stanley Investment Management Bio

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