Private Market Secondaries

The liquidity challenges of private market investments offer compelling opportunities for secondary managers with strong platforms.

While potentially offering lower correlations, less volatility and attractive risk-adjusted returns over time, the inherent lack of liquidity that comes with private equity or credit funds elicits a common refrain when speaking to investors in these asset classes: How do we manage liquidity on our timetable? While some advantages can accrue from this inherent illiquidity – including the ability to invest through bull and bear cycles and to be patient when it comes to capital allocations – the long lifespans of most private markets funds means limited partners (“LPs”) are typically unable to exit ahead of schedule. This facet has always represented one of the largest challenges…

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