Secondary buyouts have climbed globally in number and volume, reaching the highest levels in more than a decade, according to alternative-assets data provider Preqin. The secondary market has become a seller’s market in recent years, as investors have been able to sell assets at par or sometimes for more than they are worth, data from secondaries market provider Palico shows. Although recycling assets within the buyout industry pay off for the private equity firm cashing out, the CIOs of pension funds would rather avoid it.

 

• What are the latest trends in secondaries — globally and in North America?

• Can secondaries help unlock capital stuck in funds raised during the EM boom years around the 2008 global financial crisis?

• How has secondary deal activity evolved as the market has matured?

• What kinds of secondary investments should be avoided?

• How is the market perception of GP-led restructurings and direct secondaries evolving?

 

Moderator:

 

Speakers:

Konnin Tam, Managing Director, Co-Head, Secondaries and Liquidity Solutions, Private Equity Partners, Blackrock Alternative Investors