secondary sales

also referred to as: secondary sale

3 statements across 2 episodes · 1 bullish · 0 bearish · 2 people on the record · first statement Aug 1, 2022 by Sarah Samuels · across every show →

Everything said about secondary sales, oldest first

Aug 1, 2022 neutral
Insight
Samuels: Granular private market exposure data is of limited use due to illiquidity
“Even if you knew your exposure to Chinese venture to the 10th point, you can't really trade on it because it's illiquid unless you do a secondary sale.”
Sarah Samuels Aug 1, 2022 ▶ 15:06 Sarah Samuels – Framework and Rigor at NEPC (Capital Allocators, EP.264)
Dec 19, 2022 positive
Insight
Marshall: Secondary sales succeed when underlying assets are easy to underwrite
“Usually if it's partnerships that a lot of people know, where people don't have to do an extraordinary amount of work in order to understand the assets. At the end of the day, yes, they're firms and they're funds, but they're a bunch of assets. So people need …”
Ana Marshall Dec 19, 2022 ▶ 18:27 Ana Marshall – Preparing for the New Environment at Hewlett (Capital Allocators, EP. 288)
Dec 19, 2022 neutral
Assertion Contradicted
Marshall: Institutional secondary sales generally range between $100M and $300M
“Secondary sales can't really happen in a world for like under a hundred million dollars. They don't really go out in more than bulks of like 203 hundred million dollars.”
Ana Marshall Dec 19, 2022 ▶ 14:58 Ana Marshall – Preparing for the New Environment at Hewlett (Capital Allocators, EP. 288)
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