Value 'Trapped' in Mature PE Funds - Expect More 'Fund Restructurings'

Nov. 8, 2012 - PRLog -- Success in Secondaries

The private equity market will be profoundly affected by the huge supply of unexited portfolio companies, and secondaries strategies will increasingly play a role in providing badly needed liquidity, according to Ian Charles, a Partner at Landmark Partners.

In a Privcap interview, Charles describes the trends behind two high-profile fund-restructuring deals by which some LPs were taken out of mature funds managed by Willis Stein & Partner and Behrman Capital, while other LPs stayed on with revised partnership terms. Also discussed: The value “trapped in funds that are over 10 years old,” and why pricing competition means secondaries buyers must hunt for deals in misunderstood pockets of the market.

View the full video here - http://www.privcap.com/programs/206-success-in-secondaries

Ian Charles
Partner
Landmark Partners
Charles is a partner at Landmark.  He is responsible for sourcing private equity and real estate secondary transactions, developing new structural solutions for institutional investors, and negotiating private equity investments.   Prior to joining Landmark, Charles was a co-founder of Cogent Partners where he was responsible for originating private equity secondary transactions, managing client engagements and creating the firm’s research subsidiary.  He was also part of the investment team at The Crossroads Group, where he was focused on primary, secondary, and equity co-investment opportunities.   Charles is a Chartered Financial Analyst (CFA) who received an MBA from the Wharton School of Business and a BBA in Finance & Accounting from Texas Christian University.