A Palico survey of limited partners who’ve successfully purchased stakes in private equity funds on the secondary market over the last six months shows exceptionally strong pricing, with the average sale happening at 99.8 percent of a fund’s most recently reported net asset value. Moreover, 12 out of the 25 funds for which Palico has winning bid data were sold at par or better. These funds generated an average premium of 6.8 percent above NAV. Funds sold at less than par went for an average discount to NAV of 6.5 percent.
“We secured several commitments using Palico and the standout element was the remarkable efficiency of the digital marketplace.”
Brett Hickey, Star Mountain Capital