The Advent of Liquidity: Private Equity Secondaries The Advent of Liquidity looks at how the industry has evolved, what has underpinned its growth historically, and what will shape its development over the next few years. It examines the players in the market, their investment strategies and the sources of deal flow, as well as providing case studies of the most significant transactions. The report uses proprietary data and analysis to assess the risks and benefits of investing in secondaries. The result is an account of how to capitalise on the opportunities the market offers.             Edition: First Format: Research Report Pages: 54 ISBN: 1-904620-08-6 Published: February 2002 Buy Report Online Presentation in Adobe PDF Format: WILL BE E-MAILED TO YOU. £100.00 (Click to Buy) UK customers: 17.5% VAT will be added to the above price. EU customers: 17.5% VAT will be added to the above price where a valid VAT number is not supplied by you. Non- EU customers: No VAT will be added to the above price NB: Orders can take up to 5 working days to be processed. Please note, orders can only be cancelled if the product has not yet shipped to you. After products have been dispatched, no refunds can be given. See below for full terms and conditions. Table of Contents SECTIONS Executive Summary Explanation of Private Equity Secondaries The Secondaries Market Benefits and Risks of Secondaries The Secondary Transaction Process The Future of the Secondaries Market FIGURES AltAssets Market Dymanics Model: Secondaries Secondaries relationships The reasons for selling a private equity investment Primary private equity funds raised, 1990-200 ($ billion) Secondaries funds raised, 1991-2000 ($ billion) Secondaries funds raised as a percentage of all funds raised Published and unpublished secondaries transactions (%) Selection of published deals The number of players in the market, 1983-2001 Market share of secondaries fund managers, 1983-2001 (%) Secondaries funds raised to date, 1983-2001 ($ billion) Evolutionary timeline of the key secondaries market players, 1983-2001 Financial drivers * Strategic drivers * The main benefits for a buyer * Quartile returns on Calpers' investments, 1990-99 J Curve Model for private equity investments J Curve comparing a 50:50 secondary/primary portfolio versus a 100% primary portfolio The risks of secondaries investments The deal process Deal sources for small firms * Deal sources for large firms * Method of valuation * Key transaction skills * Success factors for a good deal from a buyer perspective * Success factors for a good deal from a seller perspective * Secondaries funds raised and primary investments made 4-7 years previously Linear relationship between secondaries funds raised and primary investments made 4-7 years previously, 1991-2000 The predicted growth of secondaries capital committed, 2001-2005 ($ billion) Scenario analysis of forecasting model * % of secondaries managers surveyed Report Ordering: Delivery, Terms & Conditions and FAQs.