Investment Strategy - Secondary
Transaction Types
(click on a transaction type below to see sample case studies)
> Traditional LP Interest
> Synthetic Secondary
> Structured Transaction
> Linked Transaction
| Synthetic Secondary |
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| Closed |
February 2003 |
| Seller |
European Bank |
- Seller stated publicly that it wanted to exit its private equity investments
- Existing team wanted to purchase the portfolio they had created
- Seller and team wanted the team to be part of the solution
- Number of secondary players were aware of the deal and were all trying to lead or participate
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- Management-led buyout of a portfolio of 82 private equity investments
- Initial capital contribution paid 50% at closing and 50% in September 2003
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- Reputation as a primary investor
- 4 lead investors all had significant primary capabilities to support seller's future fundraising efforts
- 3 other co-leads were non-U.S. pension funds
- Demonstrated experience leading transactions of this type, size, and complexity
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