Amy Carroll
The fee treatment of co-investment continues to vary dramatically from fund to fund.
Can retail investors offer sub line lenders the security they require?
Muted M&A activity and liquidity demands are prompting more sponsors to consider moving assets into continuation funds, but competition is fierce.
Money continues to flow into this most undercapitalized corner of private equity.
LPs are turning to the secondaries market to address liquidity constraints amid improved pricing, as compelling supply/demand dynamics and structural innovations help fuel LP-led dealflow.
Increased consumption and pervasive budgetary constraints are continuing to drive investment and innovation in the healthcare industry.
No fees, no carry is a compelling reason to co-invest, but gaining access can be tough, and transacting at speed a real challenge.
Demand for co-investment is soaring as GPs seek to preserve capital and cultivate strong LP relationships in a challenging fundraising environment.
Structured solutions can provide much needed liquidity without forcing LPs to crystalize a loss.
Continuation funds could provide sponsors with more time and capital to execute transformative sustainability initiatives.