Real Asset Secondaries – comp/firms/deal-types

Have become really interested in Secondaries recently and was wondering what the deal with real asset secondaries is? Are you investing directly into the assets, or only into the continuation vehicles/funds which own these assets? This seems close to/almost direct investing, but was curious to hear more about the space, the types of deals, comp and what the future of the space looks like and leaders in the sector

12 Comments
 

It’s just like PE secondaries but the underlying positions being real estate PE funds vs. corporate PE funds. So, just like in traditional PE secondaries, there are LP-led deals where you would buy an LP stake in a real estate fund, or there are GP-led deals where you would buy into a continuation fund with a real estate asset as the underlying investment rather than a company.

 
Most Helpful

Real assets encompasses farmland, timber, natural resources, real estate, infrastructure. You should look at Stafford - they have dedicated timber funds and even do secondaries.

 

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