EFTA Document EFTA01390936

GLOUS113 Cliff IIlig What is secondary private equity A primary private equity ("PE") investment is a direct investment into a PE fund at its inception - These funds typically contain few or no underlying assets at the time of investment - They usually have twelve to fifteen years of fund life remaining A secondary PE investment is an investment into existing PE-backed companies - Traditionally via the purchase of fund interests where the buyer acquires the selling investor's interests in