The article, written by Jonathan Braude and featuring Mauro Pfister, Managing Director of Secondaries at Capital Dynamics, delves into the evolving landscape of private equity and the competing attractions of long-hold funds and GP-led secondaries. Less than ten years ago, long-hold funds were lauded in the private equity space for their flexibility in exit timing, a stark contrast to the more rigid timeline of traditional 10-year closed-end funds. However, the attractiveness of these funds appears to have waned in favor of GP-led secondaries, which now dominate discussions in the private equity sector. The article examines the reasons behind this shift, highlighting the growing preference for the flexibility and strategic opportunities provided by GP-led secondaries.

Private Equity, Mergers & Acquisitions,Global