Staff Writer
Climate tech has been a rare bright spot in an otherwise challenging market for fundraising, but unlocking the segment’s full commercial potential will require deep pockets and a different approach to risk.
The SEC private fund rules will provide a regulatory framework around GP-led secondaries, ultimately supporting their continued growth, say Tim Toska and Emily Ergang Pappas of Alter Domus.
The proportion of investors looking to back private equity secondaries funds has been rising steadily since 2020.
As contributions exceed distributions in the private equity asset class, the secondaries market is proving more important than ever, says Northleaf Capital Partners managing director Matthew Sparks.
Liquidity challenges seem to be fueling secondaries dealflow, presenting compelling opportunities for buyers, say Tristram Perkins, Ben Perl and Victor Ko at Neuberger Berman.
The next phase of secondaries will see GPs embracing a broader range of interim liquidity solutions, say David Wachter and Todd Miller at W Capital Partners.
As its popularity continues to grow, the secondaries market is seeing increased levels of innovation, competition and regulatory scrutiny, say Gibson Dunn’s Shukie Grossman, Sean McFarlane and Kate Timmerman.
An abundance of deal opportunity and shortage of competition mean that mid-market GP-leds are the place to be, say New 2ND Capital partners Clay Cole and Evert Vink.
After a strong year for LP-led secondaries sales, buyers are shifting their attention to GP-led transactions once again, say Ropes & Gray’s Isabel Dische, Debra Lussier and Paul Van Houten.
Sponsors are increasingly looking for co-investment partners to support growth ambitions in existing portfolio companies or to generate liquidity, say Neuberger Berman’s David Stonberg, David Morse and Joana Rocha Scaff.