Join our next Private Equity webinar to find out why we strongly believe that the opportunity in the secondary market still has a distance to run.
Join our next webinar to hear GPs discuss the exceptional opportunity in GP-led secondary deals at the small end of the market.
In our recent webinar, Guilhem Savry, Head of Global Macro & Dynamic Asset Allocation, and Salman Baig, Portfolio Manager, discussed the Global Macro Strategy and outlined their expectations for the economy and markets in the months ahead.
Watch Florian Ielpo, Head of Macroeconomic Research, and Salman Baig, Portfolio Manager in our Cross Asset Solutions (CAS) team, discuss the implications of higher inflation and interest rates, and how investors should be positioned.
Like the GFC before it, the current market crisis has created a rich seam of opportunities in the secondary market, particularly in GP-led transactions at the smaller end.
Supply from nimble and opportunistic sellers, as well as a strong flow of GP-led/structured opportunities to give liquidity to LPs and to support existing portfolios, have appeared much sooner than anticipated.
So how can investors gain exposure to the best opportunities, what valuations are achievable and under what terms? What are the risks and how can investors best manage them?
In our COVID dominated world, are secondary transactions frozen as GPs await valuations to stabilise? Or is there opportunity to be found in the small-mid space and in structuring special transactions focused on the very best companies?
Since our previous webinar in June, the macroeconomic picture has improved, the left tail risk has clearly been mitigated by stimulus and macro data is pointing to a fast recovery.
The COVID-19 pandemic is causing one of the largest economic crises of the past 100 years, with many individual economies expected to experience contractions of a magnitude never seen before. Small and mid-market companies have historically been more resilient than their larger counterparts during recessions and crises. History also shows that it is at the small end of the market, rather than among the biggest companies, that private equity deals with the highest return potential are to be found.