What's in a name? The process of moving an asset or assets from an existing private markets fund into a separate structure has been happening for some time now – some say as early as 2006 and possibly even prior to that.
The so-called 'continuation fund' market was worth around $40 billion last year, according to advisory estimates. Yet, this market was not always seen as a positive and constructive tool with which fund sponsors could deliver liquidity, via an option, while retaining their hold over prized assets.
In the second episode of the Decade of Secondaries Investing miniseries to celebrate the 10 years since Secondaries Investor launched, we sit down with Nigel Dawn, head of private capital advisory at investment bank Evercore, and Verdun Perry, global head of Blackstone's Strategic Partners group, to discuss the evolution of the continuation fund market over the past decade and what's in store for how this tool will continue to be used.
SI Decade: From frustration to longer holds with single-asset continuation vehicles
Delivering flexible capital during difficult times
PIMCO’s François Trausch on decarbonization, banks and ‘pretend and extend’
SI Decade: From financial crisis to secondaries sales
Where banks' multifamily exposure is causing the most 'acute risk'
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Where electric vehicles meet infrastructure investing
The figures behind secondaries' second record year
Navigating APAC's 'toughest-ever' fundraising environment
The impact of geopolitics on real estate returns
How endowments and foundations can make the most of market volatility
Apollo’s Akila Grewal on the firm's strategic evolution
ELFA's Sabrina Fox on the tussles that have shaped deal agreements
Pemberton's Symon Drake-Brockman on the building of a pan-European GP
Kartesia’s Julien Rigon on how LP pressure has shaped ESG
LCM’s Paul Burdell on finding gaps in the private credit market
Ares’ CEO Mike Arougheti on the huge potential for private debt’s future growth
Infrastructure capital remains all in on climate agenda, despite global headwinds
How AI is transforming finance and accounting
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