PE Key Trends Blog

palico


Recent Posts

Will 2019 be the Year of Politically Motivated Secondary Sales?

Feb 11, 2019 11:18:06 AM / by palico posted in Palico PE Insights

0 Comments

senate

Volume in the secondary market for closed private equity funds soared last year as much as 47 percent with record annual aggregate value estimates in this opaque market ranging from $70 to $80 billion according to various sources. Given historically attractive pricing for sellers and the unprecedented sums earmarked for secondary purchases, record volume makes sense. The average transaction on the private equity secondary market stands at 102.5 percent of fund net asset value, according to a recent Palico marketplace survey (sent to members last month) – the highest level we’ve ever recorded. Meanwhile, estimates from industry intermediaries for committed but unspent capital in the secondaries market are at all-time highs of between $180 and $200 billion.

Read More

Secondary Pricing List - Secondary Funds Sell at Par or Better Despite Falling Stock Prices

Jan 17, 2019 8:05:21 PM / by palico posted in Palico PE Insights

0 Comments

The typical transaction on the private equity secondary market is valued at 102.5 percent of net asset value in terms of mean, with the median at 101 percent, according to a Palico survey of limited partners who’ve successfully purchased stakes in closed funds over the last six months. This is the highest pricing Palico has recorded since we began tracking secondary transactions in March 2017. This latest survey covers 30 funds of all types from real assets to private debt, buyout and venture.

Read More

PE Secondaries: Liquidity! Liquidity! Liquidity!

Dec 11, 2018 9:54:47 PM / by palico posted in Palico PE Insights

0 Comments

Liquidity may have been hard to come by for PE investors in the 90s, but almost thirty years down the road it has become a demand. Regardless of the numerous reasons LPs have cited for selling their stakes, one thing is clear, they are less eager to wait for returns. So one can ask: are LPs going schizo? They’ve been investing in the PE market for years knowing of its illiquid state and 10-year plus lifecycles, so is waiting a lost art? And especially, what is fueling their growing desire to cash out?

Read More

Q&A: Civilization Ventures Raises Capital on Palico

Nov 29, 2018 4:19:08 PM / by palico posted in Palico Q&A

0 Comments

Shahram Seyedin-Noor is the Founder and General Partner of Civilization Ventures, a San Francisco-based venture capital fund investing at the intersection of health tech and synthetic biology. We recently caught up with Shahram to discuss his fund’s unique value proposition and his experience successfully leveraging the Palico marketplace.

Read More

Palico's Digital Marketplace is a Spinoff Mecca

Mar 30, 2018 10:22:28 AM / by palico posted in Palico In Focus, V2

0 Comments

Palico

Out of nearly 300 opportunities currently listed in Palico's marketplace, more than 40 percent are first-time fundraisings. The vast majority of those funds are run by private equity veterans creating their own firms from scratch. Among these, many were founded by teams of highly experienced managers coming together for the first time from disparate fund groups. Yet two out of five are spinoffs, run by exceptionally close-knit teams that have been investing together for years and who have collectively broken free from larger organizations. The average first-time fund is now outperforming the average later-generation fund, but spinoffs - due to their demonstrated cohesiveness - generate some of the greatest excitement among investors.

Palico's Rich Range of Spinoffs

Palico is not only a great place to find first-time private equity funds, it's a mecca for investors seeking to commit to promising spinoff teams. As erstwhile subsets of larger teams, spinoff groups are frequently specialists, active in less crowded sectors than the historic core of private equity - buyouts. Indeed, only 11 percent of Palico's spinoff fundraisings are focused on the buyout market. The variety of spinoff strategies on Palico includes private credit, turnaround, real estate and a host of growth niches. A third of Palico's spinoff fundraisings are also focused on emerging markets, far from the world's highly competitive money centers.

Bringing Alternative Private Equity to Investors

In today's mature private equity fund market, where a record 3,129 funds are seeking capital - some 42 percent more than just five years ago - it can be hard for limited partners to find the time to source and evaluate promising spinoffs, let alone the broader universe of first-time funds. Yet Palico's digital marketplace brings a wide choice of promising smaller and specialized managers of all types to the desktops and smart devices of limited partner firms in every region of the world. In 2017, those LPs invested $227 million in primary fundraisings and secondaries via Palico's digital marketplace, overwhelmingly in smaller and more specialized funds. Palico is making private equity 'alternative' again, even as the overall industry becomes mainstream.

"It's great to push a button and see everything that's out there. Palico helps me do my job better."

Sabina Eder, Bank Austria

Read More

PALICO RAISES $7.3 MILLION IN THIRD ROUND OF FUNDRAISING

May 18, 2015 7:06:37 PM / by palico posted in Palico Press Releases, V2

0 Comments

The first global online marketplace for the private equity fund community will use the new capital to strengthen its market leading position.

Read More

10,000 and Counting

Mar 9, 2015 6:11:24 PM / by palico posted in Palico Press Releases, V2

0 Comments

Palico, the first global online marketplace for private equity fundraising, passed a major milestone this month, signing its 10,000th member. It also added a People Screener to help navigate the growing community.

Read More

PE Data Snapshot – PE Investors Increase Emerging Market Investment, As Others Cash Out

Mar 12, 2014 10:54:45 AM / by palico posted in PE Data Snapshot, V2

0 Comments

Amid slowing growth, rising interest rates and currency volatility, some $33 billion has been withdrawn from emerging market stock and bond funds this year, exceeding the $29.2 billion outflow for all of 2013. Yet annual private equity fundraising for emerging markets is running 32 percent ahead of last year, according to data compiled from Palico's proprietary database of more than 7,200 GPs and 12,000-plus funds.

Read More

Private Equity KeyTrends #23 – December 17, 2013

Dec 18, 2013 6:44:11 PM / by palico posted in keytrends, newsletter, Palico, PE KeyTrends, private equity, V2

0 Comments


WHO SAYS BIG DOESN’T WORK IN PRIVATE EQUITY?
Bloomberg Businessweek uses last week’s initial public offering of Blackstone-owned Hilton, generator of the biggest PE profit of all time - on paper - as a chance to explore the state of some of the largest private equity deals ever, many of which were acquired at the height of the credit bubble between 2006 and 2008. Over the years, these transactions have frequently been held up as examples of why PE mega deals perform poorly. Yet Bloomberg notes that several huge transactions from the credit bubble years have turned out to be highly profitable. Hilton and another PE mega deal, Apollo Global Management’s purchase of chemical manufacturer LyondellBasell Industries, have each yielded more than $10 billion in profit for their owners. Mike Kirby, chairman of Green Street Advisors, a property research firm, tells Bloomberg Businessweek, with Hilton, Blackstone “demonstrated the best attributes of what PE advertises itself to be, which is finding and improving companies with an intensive dose of new and better management.”

Read More

Private Equity KeyTrends #10 – June 4, 2013

Jun 6, 2013 10:15:46 AM / by palico posted in keytrends, Palico, PE KeyTrends, private equity, V2

0 Comments

A concise fortnightly distillation of key private equity news, with links to noteworthy PE articles and studies, edited by Palico – The Online Marketplace for Private Equity LPs, GPs and Advisers

Read More