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iCapital Network: The Potential Benefits of Investing in Private Equity Secondaries

In this guest post from Kunal Shah and Tatiana Esipovich at iCapital Network, the authors explain how secondary funds offer the potential for diversified private equity exposure and an attractive risk profile.   By: Kunal Shah and Tatiana Esipovich The secondary private equity market comprises the buying and selling of preexisting investor commitments to private market funds. Secondary funds (secondaries) purchase these existing commitments from limited partners (LPs) seeking to exit primary private equity funds before they are fully liquidated. In recent years, the secondaries segment has grown and matured, and may offer significant appeal to investors.   Exhibit 1: An Overview of Secondary Transactions and Participants Source: iCapital Network. For illustrative purposes only. An accessible entry point into private markets Secondaries offer several potential benefits for investors and may represent a particularly attractive entry point relative to primary private equity funds because of their unique risk and return characteristics. Diversification: Secondary funds are typically more diversified than primary private equity funds (such as growth equity or buyout funds) because they assume preexisting commitments in multiple funds. As such, secondary funds may offer significant diversification across managers, industries, geographies, strategies, and vintage years. This diversified approach has the benefit of offering private equity…

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iCapital Network: The Potential Benefits of Investing in Private Equity Secondaries
May 15, 2020

In this guest post from Kunal Shah and Tatiana Esipovich at iCapital Network, the authors explain how secondary funds offer the potential for diversified private equity exposure and an attractive risk…

https://dailyalts.com/wp-content/uploads/2019/10/54e0d742495ab114a6d98074cf213576083edbe253577548722c7f_640.jpg
Melvin: What People Are Getting Wrong About The Private Equity Buyout Study
October 9, 2019

The Economic Effects of Private Equity Buyouts is a study generating a lot of headlines. These headlines would suggest that private equity has negative impacts on the companies they buy,…

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Elizabeth Warren: Everything is Wrong with Private Equity, Everything
October 6, 2019

The “Elizabeth Warren War on Private Equity” hit a new stride after the Democratic candidate took aim at PE firms that own or back for-profit colleges. Recently, Senator Warren (D-Mass)…

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The Repo Market: Do Americans Actually Understand How It Works?
September 18, 2019

The Repo market is back in the headlines… but did anyone notice on Monday? This morning, while doing my best to follow the news around Iran and the United States,…

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