Continuation Funds Stormed the Alts World, But Are They Performing?
Private fund managers are on track for yet another record tally of continuation fund formation –the fifth year running in a trend that took off in 2020 and has kept up through market highs and lows. But even as the 2025 count appears set to top last year's 65 deals and $27.3 billion in volume, a key statistic for the market remains elusive: how exactly the current crop of continuation vehicles is performing.
A&M's Transaction Advisory Group Managing Director Anthony Caporrino was recently featured in FundFire's article, highlighting the goal of continuation vehicle performance to mimic buyout strategies and other private funds, stating, "most astute limited partners would expect those types of returns, but there isn't a ton of data to measure because of the short history here."
Caporrino emphasizes the potential for these vehicles to perform in line with the broader private equity market, adding that as the economy strengthens and interest rates decline, performance is likely to improve. Caporrino also points out that early data should be cautiously interpreted, as it is largely based on manager-generated valuations with few actual exits from early continuation funds.
Read the full article
Alvarez & Marsal Adds Another Senior Professional to European Transaction Advisory Group
February 1, 2016
A&M continues to expand our Transaction Advisory Group with the appointment of David Evans as Managing Director and a European Practice Leader.
BEAD Funding: $42 Billion in Government Funding to Accrue to Telecom Operators in the Next 9 Months – Opportunity for Value Creation Through Investments and Financing
November 21, 2024
The Broadband, Equity, Access, and Deployment (BEAD) initiative is a $42.5 billion government program aimed at expanding broadband access in underserved or unserved areas.
Stella Yuan Featured in Asia Pacific Business Article: China M&A Joint Venture and Divestiture Survey Report 2024 Released
November 18, 2024
In Asia Pacific Business' latest article, A&M's Transaction Advisory Group Managing Director Stella Yuan explores how China’s status has shifted from a top investment destination to a market marked by "uncertainty, negative sentiment, and exits, fueled by sluggish growth post-Covid, rising geopolitical tensions, regulatory uncertainties, and intense competition from local players."
Jimmy Suruki and Greg Cibuzar Featured in Buyouts
November 11, 2024
The trajectory of technology investing has experienced significant ups and downs, marked by a recent turbulent period from which it is now beginning to stabilize.
