Winston Sponsors iGlobal Forum’s Secondaries Investing Summit

Winston sponsored iGlobal Forum’s inaugural Secondaries Investing Summit in New York, a premier gathering of professionals in the secondary market and served as the exclusive sponsor for the post-conference dinner.

Partner Justin Levy moderated a panel discussion entitled “Innovations in the GP-Led Space to Drive Higher Returns,” where the panel engaged in a lively conversation on key trends, opportunities, and challenges for those operating in the GP-led space. Representatives from CF Private Equity, Blackrock, and Ares Management joined Justin on the panel and shared their collective insights on why traditional buyout shops are coming into the GP-led space, how this space will develop when the M&A and IPO markets come back, what returns and leverage will look like in a GP-led world, how continuation funds are being structured today, and what innovations are in the pipeline.

“Winston is proud to have served as a sponsor for this inaugural iGlobal Forum event. Our national team serves as a market leader representing LPs and GPs across the secondaries ecosystem,” said Justin. “I enjoyed moderating a panel with so many accomplished individuals and hearing their insightful commentary.”

Key Panel Takeaways

• The movement to GP-led funds is being partly driven by the arbitrary timelines of traditional buyout funds.
• The evolution of GP-led funds has been similar to the rise of the co-investment space.
• The structure of GP-led funds is changing to enable faster action on the secondary market, addressing the reality that traditional LP funds are too short-lived for some private holdings.
• GP-led funds are the middle ground between short-term LP-led and long-term co-investment funds, and since GP-led funds are just a fraction of the market, there is a lot of room for growth.

Learn more about the conference.