"Decoding" the Secondaries Market (September 2020)
In-depth Guides (Publications)
As a result of COVID-19 and the subsequent market impact, scheduled exit windows for portfolio assets may no longer be viable. As was the case in 2011-13, post the GFC, continuation funds can be a useful tool for GPs looking to extend hold periods for assets, where they are unable to be realised at optimum value in the short term and have potential for future upside.
As Part IV of Clifford Chance’s series on “Decoding” The Secondaries Market, we explore the key features of continuation funds, which extend hold periods for portfolio investments and provide LPs with liquidity.