Secondaries

Buy or sell private fund interests through an efficient process, with confidently negotiated terms and the right protections.

Private equity and other closed-ended private funds are, by their nature, illiquid, with investor capital typically locked in for ten or more years. Investors, however, may wish to sell all or a part of an existing private fund investment portfolio for regulatory, strategic, portfolio management or other reasons. A market for these otherwise illiquid fund interests has developed, driven by secondary buyers seeking to acquire fund interests that they believe will provide profitable returns within a particular timeframe.

MJ Hudson takes a commercial approach to secondary transactions, focusing on efficient project management and driving the timetable to completion, whether acting for the buyer or the seller, or the fund’s GP – always pro-active, never reactive. From the point of origination, we will take responsibility for drafting and negotiating all deal documentation, and preserving the key stakeholder relationships your team has worked hard to maintain.

Our team will work hard to ensure your transaction is executed in line with your commercial expectations, whilst protecting your legal position and preserving your strategic intentions and relationships.

USEFUL GUIDES

MJ Hudson’s Catalogue of the Secondaries Market

The MJ Hudson Catalogue of the Secondaries Market, is a guide to the sale of private equity fund interests. The focus is on sellers and those who may want to consider the secondaries market as a way of exiting fund interests and co-investments / private company investments. The guide has input from over 25 third party industry experts – including LPs, family offices, secondaries funds and secondaries advisors.

What does the guide cover?

  • Step-by-step checklist for a conscientious seller
  • List of common mistakes made by sellers
  • Provides two example legal agreements
  • List of recommended secondaries advisors
  • Tips for sellers (and issues to avoid and HOW TO avoid them)
  • Tax and legal considerations for secondaries deals
  • U.S. tax and regulatory considerations for secondaries deals

Available to LPs and secondaries firms. To be considered to receive a pre-release copy of The MJ Hudson Catalogue of the Secondaries Market, please email eamon.devlin@mjhudson.com.

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