Fund Liquidity Solutions

Greenhill's Private Equity and Real Estate Capital Advisory team also advises funds and fund sponsors on the recapitalization (and in some cases restructuring) of funds via the secondary market in a variety of situations (including end-of-life funds, among others) that can create liquidity alternatives for limited partners.

Examples include:

  • Tender offers: Fund sponsors engage Greenhill to run an auction to allow limited partners to sell his/her interest in the fund
  • Additional time: Extending a fund to allow sufficient time to sell remaining assets while allowing existing investors to sell his/her interest in the fund
  • New capital: A transaction that allows existing investors to sell their fund interests while simultaneously supplying a manager with capital for new investments and provide a “bridge” to the next traditional fundraise
  • Wind down: Liquidate an old fund vehicle completely, thereby relieving a fund manager of any ongoing portfolio management obligation and accelerating the distribution of proceeds to limited partners