Hi guys, just wondering whether any of the professionals working within the industry can tell me what the secondary market looks like for PE or other alternative strategies. The reason I am asking is because I'm an investor and I'm quite bullish on the alternative asset managers (KKR, BX, CG etc) and I wanted to know how durable they are even during a credit crunch like we are seeing today.
In the scenario whereby multiple LP's need liquidity quickly, is the secondary market large enough to handle their needs ? Also, does anybody know it works? I know Carlyle's Investment Solutions business has a FoF sort of thing, but I'm not sure how it works. I assume the megafunds make money from the transaction fees (bid-ask spread) between LP's coming in and out of the funds right ?
Thanks, sorry if I am rambling, just trying to get my head around what could be happening, and how KKR's of this world are operating right now.
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