Liquidity Provision in the Secondary Market for Private Equity Fund Stakes
Author: Albuquerque, Rui, Cassel, Johan, Phalippou, Ludovic, Schroth, Enrique on Jun 06, 2018
Once marginal due to contractual restrictions on transfers, the secondary market for Private Equity Fund (PEF) stakes took off soon after the 2008 financial crisis to an annual turnover of over $30 billion per year.
Behind this growth are the liquidity needs experienced by some investors since the crisis and…
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