Deals
Not Just ‘Bottom-Feeders’: Aimco Sees Boom in Private Equity Secondary Deals
- ‘Discounts are starting to stabilize,’ CIO Puffer says
- PJT forecasts secondaries may hit record $145 billion in 2024
Overall, Aimco earned a 5.4% return in the first half of the year, led by gains in equities.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Smaller investors are beginning to test the secondary market for private equity holdings, providing greater stability to pricing, according to Alberta’s public pension manager.
“We’re starting to see the evolution of that market,” Marlene Puffer, chief investment officer at Alberta Investment Management Corp., said in an interview. “It’s not just sellers trying to take things off their books, and bottom feeders taking advantage of it. We’re starting to see a more balanced demand and supply in the secondary market.”