PE Fund-Raising Down 59% Through First Nine Months
Additionally, limited partners are finding it easier to do secondary transactions directly these days, without needing to go through a fund.
“I was part of a large secondary deal earlier this year and I am amazed at just the amount of emotion around secondary deals,” said Lyons Brewer, founder of fund formation firm LB Group LLC. “The average LP who is a primary investor can beat the secondary player all day, every day, and twice on Sunday for any number of reasons, including GPs being much pickier these days.”
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