Continuation Funds Provide GPs Options in Difficult Deals Market
Once used to sell off zombie funds or badly underperforming assets, a growing number of continuation funds are being launched around high-performing trophy assets that aren’t currently fetching their proper valuation.
by Paul Elias
Unsurprisingly, while GPs applaud the strategy, LPs are more reserved due to potential conflicts. “The flavor of continuation funds has changed,” says Raudel Yanez, a managing director at Greenwich, Conn.-based Kline Hill Partners, a secondary firm which has led three technology-related continuation funds this year. “Now, managers are inclined to hold onto their prized trophy assets for a few more years.”…
Want to get in touch?
We bring decades of experience to your challenges - and a suite of personnel uniquely designed to meet your needs.