GP-Led Restructurings Price on a Fine Line

"For a manager seeking to restructure a fund, pricing is critical to the success of a secondaries deal.

A key change in the market has been that firms with 'healthy franchises' are now initiating secondaries transactions, said Kirkland & Ellis partner Michael Belsley. 'Now stronger franchises are seeing it as a benefit.'"

This article appeared in its entirety in the May 31, 2016 edition of Private Equity International.