The document provides an analysis of secondary market pricing trends from 2005 to 2017, highlighting the impact of cash flows, mark-to-market pricing, and market conditions on effective discounts at closing. It discusses the overheated market in 2006-2007, the impact of premiums paid for over-levered companies, and the stabilization of pricing at a 10% discount to NAV from 2014 onwards. The analysis is based on various market reports and outlines the recovery of the secondary market post-2009 crisis.
documents/vol00010-efta01354256-pdf.pdf
{"title":"Glendower Capital Secondary Opportunities Fund IV, LP - Secondary Market Pricing Analysis","document_type":"tabular","document_subtype":"financial analysis","key_organizations":["Glendower Capital","Greenhill","Cogent Partners","Dow Jones Private Equity Analyst"],"reference_numbers":["DB-SDNY-0038850","SDNY_GM_00185034","EFTA01354256"]}