Private equity payouts at major firms plummet
Five major alternative-asset managers delivered more than $55 billion from cashing out private equity bets last year, a 49 per cent drop since 2021.
Source: afr.com
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Cambridge Associates' Andrea Auerbach: Rate cuts in 2024 may break the transaction logjam and spur activity
'Much like covid variants, 2023’s challenges will evolve and expand as we head into 2024, and some might even abate.'
Source: pehub.com
Private Equity Investors Face Expensive Choice: 10% Loans to Get Cash
(Bloomberg) -- Investors with money stranded in private equity funds are weighing an expensive solution: borrowing against their stakes, sometimes at double-digit interest rates, until the market for their holdings turns around.Most Read from BloombergPakistan Rupee Set to Become Top Performing Currency Globally UAW Aims For At Least 30% Wage Bump to Woo New MembersBiden Impeachment Hearing Heavy on Politics, Light on SubstanceTop Chinese Scientist Claims India Moon Landing Nowhere Near South Po
Source: yahoo.com
Allocators Aren't Happy With the NAV Lending Craze
These newly popular loans can add “leverage on leverage,” says Cambridge’s Andrea Auerbach.
Source: institutionalinvestor.com
Private Equity's Woes Spur Rise in NAV Loans — And Managers Offering Them
“It’s gone from a conversation that you had to actively pursue with GPs to a conversation that they actively want to have,” says NorthLeaf Capital’s Matt Shafer.
Source: institutionalinvestor.com