Performance

The assets in the process run by the firm formerly known as The Jordan Company 'do not appear to have the ability to generate outsized returns', according to adviser Aon.

Helping to close the liquidity gap will create a boom for both the secondaries and primary markets.

Secondaries funds can deliver outperformance compared with PE buyout funds due to their diversification and asset-screening processes.

The secondaries industry is stepping up its reporting of the performance of continuation fund exits as the supply of opportunities continues to outstrip available capital.

According to mid-year advisory reports, the market is looking at a potentially record-breaking finish to 2024.

Following an ‘era of innovation’, the secondaries market is ushering in a new age of growth.

While H1 2024 did not see a large-scale fund close, several vehicles with hefty targets remain in market.

The firm’s 2016-vintage Fund VI was producing a 2.03x DPI as of December 2023, according to PEI Group data.

Big step-ups in the firm's recent fund sizes may be due to greater LP appetite for co-investing as a way to build private equity exposure on a no-fee, no-carried interest basis.

Documents prepared for a US pension shed light on the performance of the firm's growth funds as it seeks $9bn for its 12th vintage.