Failed fund launches in secondaries

Which funds never got off the ground?

  1. Two honor mentions to start which invested off of daddy's balance sheet for two years to try and build a track record: Manulife (lol) and TPG
  2. Portfolio Advisors GP-led fund
  3. Adrian GP-led fund
  4. JPMorgan everything secondaries related
  5. Audax
5 Comments
 

JPM is using a 40 act fund to get secondary exposure and Ardian is currently raising for their GP fund (although unsure of the status of this at the moment).

 

Also, what is there to scoff at about pursuing retail investors / HNW investors? This is becoming more and more common as institutional capital gets harder to tap and secondaries is the natural first place for this to occur given the higher rate of distributions. If it gives you capital and fees… who cares where the capital comes from.

 

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