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.
Private equity has an outsized interest in professional sports. The NFL’s private equity commitments are the inverse of that trend.
The firm had closed its predecessor Fund VIII in 2018, exceeding its $6bn target.
The market for GP-led deals has been overshadowed by large LP portfolio sales, but certain deals, especially those with what buyers consider high-quality assets, are finding their way to final close.
'We’re still in the very early innings,' Perry said about the secondaries market. 'I would argue we're probably at the top of the second inning.'
Macro uncertainty and challenging conditions will continue, but five industry veterans say there are bright spots to be found in the shadows.
Lead Edge also incorporates a secondaries strategy to buy stakes in companies it is targeting.
The firm in October announced its first investment, taking a majority stake in ProSearch Strategies, a tech-enabled legal services provider to enterprise customers.
Bain has raised over $2bn for its latest fund.
The California system is ramping up its private equity program after a spike to its target allocation.
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