News & Press – 2011
Secondcap facilite la vente de parts de fonds de private equity
Published in LA TRIBUNE
Opérationnelle depuis juin, cette plate-forme électronique met en relation vendeurs et acquéreurs.
LE POINT COMMUN entre une voiture et une participation dans un fonds de capital-investissement? Toutes deux peuvent se vendre d’occasion, les investisseurs dans des fonds de private equity ayant de temps à autre besoin de faire tourner leur portefeuille. Mais s’il est assez simple de trouver des acquéreurs pour une voiture de deuxième main, il en va tout autrement sur le marché secondaire des parts de fonds d’investissement. << Le potentiel de ce marché était de 60 milliards de dollars en 2010, mais un tiers seulement a fait l’objet de transactions >>, souligne François Gamblin, président de la plate-forme électronique Secondcap.
New platform for secondary market launched
Published in Financial Times
For Martin Graham, the opaque and often inefficient market for second-hand private equity interests is as modern as “dinosaurs”, writes Daniel Schäfer.
With a new trading platform called Secondcap, the former director of markets at the London Stock Exchange aims to bring the market for secondary interests in buy-out and venture capital funds into the 21st century.
Secondaries for beginners
Published in PE Asia, PEI
The secondaries market is still dominated by big players and big deals. But as interest in this historically opaque but rapidly expanding area increases, smaller, atypical investors are trying to gain access. Enter: secondary platforms.
These platforms, many of which operate as exchanges or matching services, provide a mechanism to trade smaller alternative assets. And they’re growing in popularity. Take Secondcap: since its April launch, the US outfit has seen around $110 million in assets traded through its platform, as of 22 July, and it expects that figure to grow in the coming months.
Regulation is a key driver here. “As the pressure of Dodd-Frank starts to hit the smaller banks, selling will escalate. With in-house staff, they can easily engage our secondary platform,” said SecondCap managing director Patrick Shattenkirk. “Initially, we’re focusing on transactions that are not on advisors’ radar screens. As the platform gains acceptance, we expect to see bigger deal sizes.”
SecondaryNet attracts more dealflow from sellers
The rise of SecondaryNet as a venue to transfer LP interests took a boost today with an additional 8 interests listed on the platform. LPs seeking to buy secondaries on the platform can now bid for over $150m of dealflow. Chief Operating Officer, Nirosh Wijewardene, reports that upcoming dealflow to the platform should take the number to well over $400m by November 2011.
Secondcap Launches SecondaryNet with $70m of Limited Partnership Interests
Secondcap is pleased to announce its global launch with an initial $70m of dealflow and a considerable pipeline to follow on the SecondaryNet platform. Interests include European mid-market LBO funds and Cleantech funds.
Registering to view all dealflow is free of charge on SecondaryNet. If you would like to gain access to these transactions and new opportunities as they come onto the platform please contact us:
François Gamblin, Directeur Général de Secondcap Limited
Du nouveau sur le marché secondaire du Private Equity
New IT platform seeks to unlock private equity
Published on AFR.com
Private equity fund investors, known as limited partners (LPs), may soon find it easier to trade their interests, as London-based firm Secondcap aims to ‘unlock the liquidity shackle’ of the secondary private equity market.
The firm’s online platform, called SecondaryNet, matches interested buyers and sellers of interests in private equity funds – a market valued at about $20 billion a year that is still in its infancy. SecondaryNet pitches itself as an independent, efficient and cost effective way for investors and their advisers to interact, manage and close a secondaries deal online.
The system has a strong focus on confidentiality – if this feature was not central to everything about it, parties would be likely to come under stress. A GP must pre-approve an LP looking to purchase their fund and what information is disclosed for due diligence purposes.