Chris Witkowsky
GP-led deals represented about 46% of the $40bn-$45bn of secondaries volume in the third quarter, according to research from PJT Park Hill.
The firm was best positioned to know the asset well, which helped inform its ability to set an appropriate price, Kian managing partner Kevin McCarthy said in an interview.
Diversis, formed in 2013, acquired a majority stake in Tempo in 2018, and bought the rest of the company in 2022.
Huron’s specialized strategy will make use of its ExecFactor process, in which the firm partners with an industry executive to invest in certain industries and businesses.
The single-asset continuation fund process is part of a wave of such deals GPs are attempting as a way to deliver proceeds to limited partners in older funds at a time of slow exit activity.
Hudson Glade buys Quality First Home Improvement in debut deal; Arcline exits electric infrastructure services firm Voltyx; how does a firm exit an asset that has grown too big to exit?
The transaction is in the early stages and could reach $2bn in size, sources said.
Brynwood said to be putting Hometown Food sale process on ice; THL co-CEO Todd Abbrecht sees ‘some green shoots’ in the market; SDC Capital runs single-asset secondary on dark-fiber company.
PE-backed Iris Software acquires Swipeclock.
EQT is taking digital consultancy Perficient private for $3 billion.