The document provides an analysis of the secondary private equity market, highlighting a strong market with a deal volume of US$58 billion in 2017. It discusses stable but differentiated pricing, the growth of GP-led deals, and the steady supply of tail-end funds. The analysis notes that secondary pricing was steady at 93% of NAV in 2017, with increasing price dispersion between high and low-quality GPs/funds. GP-led deals are evolving, representing 24% of the market, and there is a lack of NAV growth resulting in moderate trading discounts.
documents/EFTA01394748.pdf
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