Chris Witkowsky

A disconnect exists in the industry between GPs who view continuation funds as a desirable way to hold certain assets beyond the limits of a traditional private equity fund, and LPs who generally would prefer a regular exit.

In the wake of the most sweeping regulations since the financial crisis, Gensler was grilled this week by members of the Senate’s Banking, Housing and Urban Development committee about the new private fund rules.

The new group is among a handful of competitors vying for business from private markets GPs finding it difficult to raise funds. 

For GPs with funds in market, any extended fundraising delay could cause headaches, as they have deadlines to meet, deals to close and employees to pay.

One of the challenges that has emerged as potential buyers explore an acquisition of SVB Financial’s fund of funds platform is continuing access to the top names in venture capital, say sources familiar with the process.

Sherrese Clarke Soares formed HarbourView in 2021 with aspirations to grow the firm into a $20bn asset manager by 2026.

As funds hit the market over the next few months, they will likely contend with what some sources have told me is 'LP fatigue'.

In this second episode of our miniseries Private Markets and the End of Cheap Money, we talk to LPs about allocation shifts, impacts on fundraising and what investors are looking for out of their GPs as rates rise.

Braven is being launched by William Abecassis, who spent over a decade at BlackRock, including leading equity and debt investments in growth stage companies as head of innovation capital.

Discount levels as high as 30% are unlikely to entice any but the most desperate sellers to approach the secondaries market for liquidity relief.