How are MF Secondaries Funds?

Curious if anyone could share insight on MF secondaries funds like Apollo S3 or Blackstone Strategic Partners. How do these funds compare to the approach, culture, comp etc. of players like Harbourvest? How are they doing deploying recent funds? Seems like they raised a ton of capital and there are lots of opportunities for deals right now.

I'm at a boutique secondaries fund. I imagine we are bidding on a different league of assets with our smaller check size. Nearly all direct secondaries. Just want to know how large cap players are approaching the asset class. Thanks for any insights.

6 Comments
 

I’ve been trying to find out more about a MF secondaries fund as well, but I’m getting no traction. Maybe people just don’t know about them.

 

From what I heard talking to MF PE teams, secondaries teams are just small. There isn’t a lot of headcount and deals are either massive (3B+) or small (500M). They don’t get a lot of press because of that but I’ve heard comp is similar to PE at junior levels and a small percentage behind at senior levels. Hours are typically 10-20 less per week as well.

 

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