Happy Wednesday!
Single-asset processes have become an almost routine part of the industry these days -- another option available to GPs looking to sort out older funds holding portfolio companies.
I’ve been asking around whether it’s become almost an expectation among sellers that a financial adviser offer not only traditional M&A or public listing exit tracks, but also the single-asset secondary path. Some sources believe this is the case, but I've been getting mixed reviews on this one.
“Ideally, you should be trying all three tracks to maximize value, but can that really happen?” said one secondary buyer.
Meanwhile, TPG and Riata Capital closed single-asset processes recently. TPG successfully moved its portfolio talent agency CAA out of its Fund VI and into a continuation pool, while Riata completed a similar process for its company AEG Vision.
That’s it for me! Have a great Wednesday. Reach me with tips n’ gossip, feedback or book recs at cwitkowsky@buyoutsinsider.com or find me on LinkedIn.
Read the full wire commentary on PE Hub...
