Flush With Cash, PE Secondary Market Gains New Cachet

Law360, New York (July 21, 2014, 6:18 PM EDT) -- Strong demand and competitive prices have revolutionized the private equity secondary market, changing its image from that of a pawn shop for desperate investors to that of an important tool for active managers, experts say.

The once-bargain-bin market has become more institutionalized and professional than ever, smoothing the road for hesitant investors amid an explosion of growth in the number of buyers and sellers.

“Five years ago, we would talk to institutions about secondaries, and they weren’t interested,” said Lars Lindqvist, founder of Cattegatt Capital Ltd.,...
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