While many investors are frustrated with high prices on secondary private equity assets, Commonfund still sees value in overlooked corners of the market.
The market for secondary transactions, which Evercore recently reported grew a third to $72 billion in 2018 from $54 billion in 2017, is playing an increasingly important role in investors’ PE strategies. Commonfund, which manages $24.1 billion in endowment and foundation assets, tries to stay a step ahead by looking for opportunities in venture capital, emerging markets, and other areas where competition is less heated and prices are lower.
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