Investor caution, bid-ask spreads hold back China secondaries
Secondaries investors see a lot of potential GP-led deal flow coming out of China, but completion rates are being held back by caution among buyers and a reluctance among sellers to compromise on valuations.
“The level of deal flow is probably the highest we’ve ever seen and most of it is proprietary, but you need to be cautious as to the type of deals you do and how you do them,” Frederic Azemard, a...
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