Awarding the firms at the forefront of secondaries innovation

Affiliate title Private Equity International is accepting submissions across 12 secondaries categories in the PEI Awards 2023.

By Adam Le

Something feels different about the secondaries market this year.

In the GP-led part of the market, continuation funds are popping up left, right and centre. UK mid-market private equity managers have even gone as far as selecting continuation funds as their preferred method of exit, according to a survey by investment bank Numis in September.

In the LP-led market, institutional investors are becoming repeat sellers, as we chronicled last month. According to data from PJT Partners , 50 LPs have accounted for 50 percent of secondaries market deal volume over the last decade. Many of those investors have returned to the secondaries market this year.

On top of that, the age-old debate of whether the secondaries buyside is capitalised to a healthy degree continues. For those who believe there isn’t enough capital to back deals, consider this data point: according to research by Bain & Co, there was roughly $1.1 trillion in...

Read the full story here on Secondaries Investor.