Exits: The path to liquidity
Sluggish exits have restricted distributions, making LPs unable or unwilling to back new funds. With IPOs and M&A channels obstructed, sponsor-to-sponsor sales have come to the fore. Beyond that, GPs are exploring alternative sources of liquidity, with continuation vehicles, cross-fund transactions, and NAV financing increasing on the agenda. GPs and LPs give their take on how best to realise returns.
- Sponsor-to-sponsor sales led the way in Asia in 2023. Will it be the same in 2024?
- Which jurisdictions are most attractive for PE-backed IPOs?
- What is the demand-supply dynamic behind single-asset continuation funds?
- How are investors addressing conflicts of interest tied to alternative liquidity?
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