Conversation

Replying to
100 mil stake, with 40 mil deployed. Fund’s mark at 1.5x = 60 mil mark. 40% discount = 0.6x60 mil = 36 mil. Buy at 36 mil, with commitment to fund another 60 mil in the future.
2
4
Replying to
Selling LPs are usually firms that don’t have enough liquidity for future committed drawdowns. Can be anyone, but usually pension funds. Buyers are specialist secondary PE guys, usually funded by cycle agnostic LPs like sovereign funds.
1
3