SecondaryLink’s Post

I don't know how to succinctly put to words the impact Limerston Capital has had on me, my career, and my family. Try as I may, I'll assuredly fail to do so over the next handful of paragraphs... ...In the Spring of 2016, while I was working for my prior firm, I met Joao Rosa & James Paget of Limerston Capital as our newest mandate coming to the US for a flurry of meetings. I had perused their pitchbook and found the strategy compelling, but had yet to see them pitch live. Their first meeting was a disaster. I told them in some not-so politically correct terms they need to display how an investor can turn $1 into $3, and how they've built the right team to execute an asymmetric strategy impervious to competition. No more. No less. The next meeting was amazing, and my eyes were illuminated onto what some LPs have dubbed “the CD&R of European LMMBO”. Where “Perseverance meets Performance” is how I’d characterize the Limerston II fundraising experience. From the leadership provided by Joao Rosa, James Paget, and Martim Avillez and throughout the organization, everyone was pulling in the same direction. In particular, Joao Rosa & I spoke almost every day in some capacity for the entire fundraise—be it in meetings, traveling the US, on videocalls, or just overall strategy. If you are fundraising in the modern era, this is the type of dedication that is necessary both from the GP and from the placement agent (I actually don't consider myself a placement agent but that is for another day). This relentless pursuit of achieving a successful fundraise should come as no surprise when I then overlay Limerston's performance. Every investment Limerston has done in the last seven years is a minimum stand-up double. What I mean by that is a de-risked top quartile return. Low entry valuation, low leverage, high margins, high cash conversion, numerous bolt-ons via buy-and-build execution, culminating in top quartile performance. Rinse and repeat like a well-oiled machine. If you ever saw my firm's pitchbook, you'd know that I'm a big fan of the racehorse Secretariat and on the very first page there's a quote by Penny Chenery, owner of Secretariat, "You need to have a product you believe in, and the determination to get it done." Well for Limerston, I believe there's another quote attributed to Secretariat which is appropriate by the legendary turf writer Charles Hatton, "His only point of reference is himself." For Limerston, their only point of reference, is Limerston.

Starting our journey, we're prioritizing quick enhancement of DPI. Join us as we redefine investment frontiers and set new standards in the market! #PrivateEquity #Secondaries #DPI #SeineCapital #InvestmentExcellence #Innovation #SmallMarket #DebutFund #Investing #Finance #FinancialNews

Seine Capital launches debut secondary fund.   Fabrice Moyne, Mantra Investment Partners’ former Partner and secondaries head, serves as Seine’s Managing Partner alongside Chad Eric Zidow and Solaiman (Sol) Zein as Partners. The newly established firm will seek to capitalize on the less populated lower market. #Secondaries #Secondary #SecondaryMarket #AlternativeInvestments #PrivateMarkets #Fundraising https://lnkd.in/eKke7ta3

Hey Y'all! Make sure to join us TODAY with Nic Espanet and I on our HERO Capital Raising Party, January 2nd at 2PM CST! RSVP Now to join us LIVE on Zoom at capitalraisingparty.com #HEROCapitalRaisingParty #multifamilyinvesting #multifamilyrealestate #multifamily #capitalraising #investors #syndication #fundmanagers #cre #multifamilyinvestor #realestate #realestateinvesting #realestateinvestor #commercialrealestate #virtualmeetup

In this Hardman Talks, Larissa Adams and Richard Angus share their views on the rising importance of private company valuations. Recent market activity has shown that fund managers and business owners share a common need for private businesses to be better understood, and more accurately valued – be it in the pursuit of maximising returns for investors, raising funds or as part of a business acquisition due diligence. Richard and Larissa discuss the increasing demand for this type of bespoke corporate research, and the role financial regulators and other market participants, like Hardman & Co, play in the ecosystem of valuing private businesses. #valuations #investing #fundraising #investments #SMEs

Y’all say Hello to Rand Eastwood! If you want a chance to have your own intro video posted here, join our HERO Capital Raising Party today, July 9th @2PM CST. Make sure you always get on early. Here’s the link to register if you haven’t done so capitalraisingparty.com #multifamilyinvesting #multifamilyrealestate #multifamily #capitalraising #investors #syndication #fundmanagers #cre #multifamilyinvestor #realestate #realestateinvesting #realestateinvestor #multifamily #commercialrealestate #virtualmeetup

Check out what Aaron Patterson says about our HERO Capital Raising Party We are having one today July 2nd @2PM CST, and would love to have you at our virtual party. Here's the link to RSVP at capitalraisingparty.com #multifamilyinvesting #multifamilyrealestate #multifamily #capitalraising #investors #syndication #fundmanagers #cre #multifamilyinvestor #realestate #realestateinvesting #realestateinvestor #multifamily #commercialrealestate #virtualmeetup

Y’all say Hello to Chris Carsley, CFA, CAIA! If you want a chance to have your own intro video posted here, join our HERO Capital Raising Party today, July 23rd @2PM CST. Make sure you always get on early. Here’s the link to register if you haven’t done so capitalraisingparty.com #multifamilyinvesting #multifamilyrealestate #multifamily #capitalraising #investors #syndication #fundmanagers #cre #multifamilyinvestor #realestate #realestateinvesting #realestateinvestor #multifamily #commercialrealestate #virtualmeetup

Y’all say Hello to Seabea 希笔 Ghoph "win-win" or "no deal" 希望之笔! If you want a chance to have your own intro video posted here, join our HERO Capital Raising Party today, September 10th @2PM CST. Make sure you always get on early. Here’s the link to register if you haven’t done so capitalraisingparty.com #multifamilyinvesting #multifamilyrealestate #multifamily #capitalraising #investors #syndication #fundmanagers #cre #multifamilyinvestor #realestate #realestateinvesting #realestateinvestor #multifamily #commercialrealestate #virtualmeetup

The secondaries market saw $34.5 billion raised in the first half of 2024, roughly $6 billion less than in H1 2023. H1 2023’s total was buoyed by Blackstone Strategic Partners’ $22.2 billion close on Strategic Partners Fund IX, which represented 54 percent of the capital raised across the period. Firms have yet to replicate those figures in 2024, though some mega-funds remain on the road. Together, the top 10 funds in market are targeting $86.5 billion and have so far raised at least $51.45 billion. Largest funds closed under these Institutions in H1 2024 Hamilton Lane $B5.60 Goldman Sachs Asset Management $B3.40 StepStone Group $B3.30 LGT Capital Partners $B3.00 Committed Advisors $B2.82 Banner Ridge Partners, LP Partners $B2.15 Goldman Sachs Asset Management $B1.46 CF Private Equity $B1.10 Intermediate Capital Group (ICG) $B1.00 ODDO BHF 0.77 #privatequity #fundmanagment #fundmangers #hedgefunds #venturecapitalist #investment #realestate #privatedebt #Infrastructure #familyoffices #fundraising