Leverage in secondaries: friend or foe?
According to figures released by Triago, in 2017, debt accounted for 23% of the total $45bn of secondaries deal value in, a massive uptick from the 4% of debt represented in 2013 deal value. Furthermore, Triago estimated that 65% of secondaries buyers used leverage in 2017, up from just 15% in 2013.
Clearly, the use of leverage in secondaries transactions is on the up.
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