Secondaries Resources

To dive into GP-led secondaries banking, here are some top-notch resources and podcasts based on the most helpful WSO content:

Podcasts:

1. Silicon Street Interview with Kevin Dunwoodie
   • This podcast features Pantheon’s head of secondaries, Kevin Dunwoodie, discussing GP-led transactions and other key aspects of the secondaries market. A must-listen for insights into the industry.

Articles and White Papers:

1. "An Introduction to Private Equity Secondaries" by CAIS
   • A foundational resource to understand the basics of secondaries.
2. "A Liquidity Cushion in Troubled Times: The PE Secondaries Market" by INSEAD Knowledge
   • Explores the role of secondaries in volatile markets.
3. "LP Corner: An Overview of Fund Secondaries" by Allen Latta
   • A detailed overview of fund secondaries, including GP-led transactions.
4. "Navigating Secondaries: A Guide to Changing Currents" by Landmark Capital / Ares
   • A white paper that dives into trends like single-asset secondaries and continuation funds.

Case Studies and Transactions to Study:

1. BC Partners’ Continuation Fund for Springer Nature (2020)
   • A notable example of a GP-led secondary transaction.
2. Hellman & Friedman’s Transfer of Portfolio Companies to a Continuation Vehicle (2020/2021)
   • A key case study showcasing the mechanics of continuation funds.

Additional Tips:

• Leverage your access to research portals from major banks to review their reports on secondaries. Look for insights on market trends, valuation techniques, and deal structures.
• Consider exploring WSO’s Private Equity Interview Course and LBO Modeling Course to sharpen your technical skills, as these are often tested in interviews for secondaries roles.

These resources should give you a strong foundation to break into GP-led secondaries banking. Good luck!

Sources: Learning recs for secondaries, Q&A: PE Secondaries Principal, Q&A: PE Secondaries Principal