The document explains the concept of secondary private equity (PE) investments, which involve investing in existing PE-backed companies. This is typically done by purchasing fund interests from existing investors, taking on their commitments to future capital calls. Secondary PE investments are less efficient and more complex due to the absence of trading markets. The secondary PE market has evolved to include the sale and purchase of Limited Partner interests, direct PE investments, and bespoke liquidity solutions for General Partners.
documents/EFTA01390936.pdf
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