How should GPs and LPs approach stapled secondaries deals? This was the question broached by sister publication Secondaries Investor during a recent sit-down with three legal experts: Kate Simpson of Proskauer, John Rife of Debevoise & Plimpton and Saloni Joshi of MJ Hudson.
The trajectory of stapled secondaries deals mirrors that of the secondaries market as a whole. In less than a decade, these transactions have gone from being “the refuge of the stressed and distressed”, in Simpson’s words, to a tool employed by blue-chip managers such as BC Partners and Providence Equity Partners.
In this 17-minute podcast, the panel discusses how stapled deals have come back into fashion, the dos and don’ts of getting a fairness opinion and how scrutiny from the Securities and Exchange Commission has affected the way that deals are done.