Asia GP-led secondaries: A new normal for liquidity?

GP-led secondaries have become a more attractive, alternative, path to liquidity amid a challenging exit environment for sponsors during the past two years. While APAC markets still lag behind their Western counterparts in terms of utilising this type of transaction, recent completed transactions have been encouraging.

In BDA’s latest insight piece, we share our key thoughts on the Asian GP-Led secondaries landscape:

• Continuation Fund transactions, established in the US and Europe, are growing in Asia, with notable activity in Japan, India, China and SE Asia
• Market volatility and challenging exits are driving more sponsors to the secondaries market
• Secondary investors prioritise GP-alignment, growth and resilience; however macro-economic and political uncertainties, particularly in China, have lead to a pricing gap and a more cautious investment
• Secondary funds “dry powder” remains high and investors are focusing on well-performing assets, strong GP-alignment and recession resilience

Download the full report for more insights on the Asian GP-led secondaries