30
Apr
Institutional investor insights – in search of liquidity
Whilst the denominator effect has been largely addressed, continued geopolitical tensions, macro uncertainties and liquidity constraints are just a few of the issues that are top of mind for today’s private equity investors. Although LPs remain committed to the asset class, they are increasingly pressuring GPs to return capital and sell off portfolio holdings to recapture some equity, and GP-LP negotiation dynamics have shifted in favor of the LP in recent years. What will 2024 hold for LPs as they search for meaningful alpha? Our panel of top allocators discuss their strategies for the year ahead.
- How are LPs tackling today’s environment, especially given liquidity issues? Has LP bargaining power increased?
- Are LPs looking for more portfolio diversification and new managers, and has there been a shift away from private equity towards other asset classes?
- Which strategies have been more popular amongst North American LPs, and will co-investments remain popular? Is NAV financing still a strategy that LPs are on board with?
- What is the outlook for the year ahead?
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SpeakersSusanne Forsingdal Managing Director, Head of the Americas ALLIANZ GLOBAL INVESTORS
Cynthia Haidar Director, Investments DORIS DUKE FOUNDATION
Roger Vincent CEO & CIO SUMMATION CAPITAL
Summer Zhao Investment Director LAFAYETTE COLLEGE
Harriet Matthews Funds Editor MERGERMARKET
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| Susanne Forsingdal has served as Head of the New York investment team at Allianz Capital Partners, GmbH since January 2015. She represents ACP on the advisory boards of a number of Private Equity Funds. Prior to joining ACP, Ms. Forsingdal headed the New York team of ATP Private Equity Partners. Previously she worked in equity research, strategy and investor relations with Copenhagen based banks and insurance companies. Ms. Forsingdal received a Masters in Finance and Accounting from Copenhagen Business School. |
Cynthia Haidar is the director for investments at the Doris Duke Foundation. In this capacity, she is responsible for evaluating investment opportunities across multiple asset classes, including liquid alternative strategies, private equity, real estate and private credit investments.
Prior to joining the foundation in 2021, Haidar spent over a decade at Gapstow Capital Partners, a credit-focused multi-manager and advisory firm. At Gapstow, Haidar was involved in various research and operational aspects of the business. She was responsible for portfolio and fund analysis for Gapstow’s discretionary accounts and those of advisory clients. She also led the development and management of some of Gapstow’s alternative credit indices and the in-depth analysis of their constituents. When Gapstow managed discretionary assets, she was a member of the firm's investment committee and valuation committee.
Haidar earned a Master of Science in financial engineering from Columbia University and a Bachelor of Engineering in computer engineering from the Lebanese American University in Lebanon.
Mr. Vincent is the founder and CIO of Summation Capital, a newly formed independent investment management firm focused on providing investors exposure to the Private Equity asset class in a high-quality, low-cost, and aligned manner. Previously he led the Private Equity portfolio of Cornell University’s $10 billion endowment. He had responsibility for the endowment’s Venture Capital, Growth Equity, and Buyout portfolios which he led for over a decade generating top returns among peers. Prior to Cornell, he was an investment partner at Founders Equity, a New York based private equity firm making control investments in lower middle market businesses. He began his career at DLJ where he was a principal investor in the Merchant Banking and Sprout Groups.
Roger graduated Dartmouth College with a BA in Economics and received his MBA from Columbia Business School with Beta Gamma Sigma academic honors.