As continuation vehicles (“CVs”) become a mainstay of private equity, the market is responding:
> LPs are more commonly participating as secondary investors.
> Simultaneously, portfolio “black holes” are being left behind in legacy funds where portfolio companies have been transferred into CVs.
We were pleased to see Upwelling’s research on this evolving dynamic featured in the recent PEI Side Letter: Black hole fund.
Find the referenced Upwelling research here.
