LANCEA is well equipped to act for buyers, sellers and the fund manager itself in relation to existing private fund interests
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The strong growth in the secondary market for private funds, in particular private equity but increasingly across the asset classes, is an area where the provision of independent advice can add significant value to all counterparties involved in a transaction. At its most basic, this involves introducing sellers of limited partnership interests to traditional secondary investors as well as to a wide range of non-traditional secondary buyers, and extends to advising on pricing, due diligence and structuring negotiations.
Secondary transactions encompass a wide range of situations. Complex "GP/Manager restructurings" now include more standardised “GP Led” portfolio and single asset transactions, using secondary market funding solutions for purchases of portfolios of “secondary directs” and occasionally specialist co-investment mandates for single asset acquisitions. In such cases, dedicated advisory experience and in depth knowledge of the secondary and co-investment markets is required. We have successfully helped execute a number of such transactions, putting together sellers, funders and specialist managers.
An in-depth working knowledge of the secondary markets has also become a key tool in the context of a primary fundraising, including the creation of "staple" transactions and other secondary influenced fundraising solutions.
LANCEA works with all types of investors, fund interests, fund assets and investment strategies, ranging from mature buyout funds through to younger venture funds. The key aim is to enable sellers and purchasers satisfy their respective objectives through the designing of creative solutions.