Hannah Zhang
LP-led deals accounted for $40bn of the $68bn of global secondaries volume seen in H1 2024 as bid-ask spreads narrowed.
As the LP-led market grows ‘white hot,’ mosaic transactions are sparking debate among some practitioners over the impact on returns.
Blackstone’s move to combine its GP stakes and secondaries businesses raises questions about how players in both markets should address potential conflicts of interest.
The transaction is in the early stages and could reach $2bn in size, sources familiar with the matter said.
The State of Wisconsin Investment Board and Florida State Board of Administration both expressed unfavourable views on NAV-based instruments on a webinar hosted by PEI Group.
The firm had closed its predecessor Fund VIII in 2018, exceeding its $6bn target.