Australia’s Ironbridge drops staple from LP secondary exit deal
Ironbridge Capital has dropped its proposed stapled secondary transaction that would have allowed investors to exit or rollover their positions into a new vehicle with the option of making a commitment to a new primary fund. AVCJ understands the deal is likely to involve a secondary trade only.
The original proposal, tabled last autumn, drew criticism from some existing investors because rolling over their holdings in the Australian GP's first and second funds was conditional on participating...
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