Fund Liquidity Solutions
Greenhill's Secondary 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.
- 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