Monthly Archives: October 2014

Secondary fund buyers predict a 1.39x gross ROI for 2014 vintage secondary fund transactions. This data is the result of a survey at the 2014 September annual “Secondary Buyer Dinner” that I host each year in New York City. Over 85 professionals attended (all from secondary funds), representing the vast majority of firms in the industry by dollar value. Continue reading →

All too often, buyers and sellers cannot reach pricing that both are comfortable with. Even a 1% pricing divide can kill a deal. Sometimes to make a deal happen, buyers decide to overpay a bit and hope some unexpected good news comes from a portfolio. Others throw in the towel. Fortunately, there are a few approaches that can help bridge small gaps in pricing. While some of these approaches call for structuring flexibility from the seller, none move the price. Continue reading →