The July edition of The Alternative Investor is out.
This month’s edition looks at the secondaries market, its mechanics, risks, and whether it can truly deliver the liquidity that retail and high-net-worth investors expect.
Contributions include:
- W1M’s Thomas Pocock argues that secondaries offer newer private markets investors a more diversified and naturally liquid entry point, while warning that immediate mark-ups from discounted purchases to NAV remain a problem for evergreen structures.
- TPE’s Fred Bouverat explains how the LSE’s Private Securities Market and the TPEIC structure could create recurring liquidity in private company shares, making private markets more accessible to pension and retail-facing capital.
- Multiplicity Partners’ Andres Hefti sets out how continuation funds and other GP-led tools have become central to secondaries, with the strongest opportunities increasingly found in smaller, more complex and less crowded deals.
- CSC’s Jonida Vesiu explores how secondaries, tender offers, private trading venues and initiatives such as PISCES are turning private-market liquidity into a more permanent layer of capital-market infrastructure.
The edition also offers the usual insights across the alternative investment landscape and concludes as always with RQC Group’s regulatory roundup which highlights key developments in the UK and US.
Click below for the July edition of The Alternative Investor:
