Capital Allocators – Inside the Institutional Investment Industry
Nigel Dawn - Secondaries in Private Markets (EP.378)
Apr 8, 2024
Nigel Dawn, the global head of Private Capital Advisory at Evercore, shares his expertise on the booming secondaries market in private equity. He delves into the evolution of LP and GP relationships, discussing how perceptions have shifted since the financial crisis. Nigel offers insights on strategies for both buyers and sellers, the significance of unbiased advisory services, and the growth potential of secondary liquidity in private credit. He also reflects on the importance of communication skills and risk-taking in navigating this complex landscape.
41:02
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Quick takeaways
- Evercore leads 30-40% of secondary market deals, facilitating strategic portfolio optimization for LPs.
- GP-driven transactions in secondary markets shift towards portfolio repositioning and evolving capital needs.
Deep dives
Growth and Opportunities at TenEast Investment Platform
Michael LaFell, the former Deputy Executive Managing Member of Davidson Kempner, leads TenEast, offering members the chance to co-invest. The platform provides diverse investment opportunities in private credit, real estate, venture and private equity, and more, with a track record of over a decade. TenEast ensures ongoing monitoring and reporting akin to an institutional investment setup.
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