Private Capital Makes Secondaries SOS Call
Investors craving liquidity turn to continuation vehicles
A picture taken on November 30, 2012 in Hayange, shows a lightning SOS sign next to a Virgin Mary statue
Photographer: JEAN-CHRISTOPHE VERHAEGEN/AFP via Getty Images
Welcome to Going Private, I’m Sinead Cruise and this is Bloomberg’s twice-weekly newsletter about private markets and the forces moving capital away from the public eye. Today, we look at why one BDC manager with minimal software exposure is still fretting about the future, Pimco’s distaste for private credit opportunities and why one of Japan’s biggest insurers is keeping faith with the asset class. But first we look at whether continuation vehicles could help or hurt liquidity-starved investors. If you’re not already on our list, sign up here. Have feedback? Email us at goingprivate@bloomberg.net
“Zombie” funds on life support or trophy investments simply too good to let go. The private capital secondaries market is bracing to see many more of both.