Madeleine Farman
The software giant will run off its growth equity fund and will not raise another vehicle for the strategy, with the two co-heads of its growth business having left the firm.
The Chicago-headquartered firm joins a growing number of buyout firms entering the secondaries market, and is the latest sector-specialist.
A live deal by Carlyle is taking the concept of structured solutions to another level.
LPs are taking an increasingly proactive approach to the secondaries market, while CVs will represent 10-20% of PE exits, managing partner Yann Robard said at NEXUS 2026.
An eventual uptick in distributions will lead to higher pricing, which will see a larger proportion of opportunistic LPs coming to the market, managing director Jake Stuiver tells affiliate title Secondaries Investor.
While there is growing demand for liquidity in the GP stakes market, significant structural barriers keep capital locked up.
In this Second Thoughts podcast, Peter Wright, founder of the Diversity in Secondaries Initiative, discusses why he set up the non-profit and notes its key achievements.
Nearly 45% of companies within single-asset CVs had an implied TEV greater than $2bn last year reflecting minority interest or strip sales for larger companies being used in these deals.
The transaction, which could total as much as $1bn in size, is understood to comprise a concentrated list of funds and managers.
HarbourVest and Goldman Sachs are understood to be the lead buyers on the multi-asset continuation fund and a single-asset continuation fund respectively.