Last week, our team participated in SuperReturn’s 2024 SuperInvestor Conference, where we exchanged insights and connected with leading innovators and decision-makers across private markets. Head of Secondaries Nicholas Lawler participated in the Secondaries Summit, where he joined an onstage panel about the proliferation of mid-market GP-led transactions.
During the session, Nick discussed how this trend is leading to smaller transaction sizes, smaller syndicates and more exclusivity, highlighting the importance of having strong pre-existing relationships and the capital to lead and structure deals. He also shared how the continuation vehicle market has split into three main segments: fund wrap-ups, mid-life complexity and trophy assets. At Churchill, we are mainly focused on trophy assets, which are high-performing businesses that a private equity sponsor could sell, but opts to hold onto for longer to keep growing value. Typically, there are one or two of these per fund.
Finance Professional
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