First in the secondary market.

First in the secondary market.

A large team of experts. Unparalleled market insight. And a relentless pursuit of the best price. This is what we offer our clients. And why we are one of the most trusted secondary advisors in the world.

About us

Who we are.

We are a large team of specialists with one focus: secondary advisory. Since 2006, we’ve completed more transactions, gained more market insight and delivered superior results for clients.

We do it better, because it is all we do.
More about setter

Setter Capital is the global leader in liquidity solutions for private fund managers and institutional investors in alternative investments. Our clients are some of the world’s leading fund sponsors, pensions, endowments, and investment consultants. Since our inception in 2006, we have completed hundreds of transactions, representing more than $20 billion in liquidity across venture capital, private equity, infrastructure, real estate, real asset, and hedge fund investments.

Setter is an industry leading provider of secondary market research and analysis that leverages our proprietary secondary market network, SecondaryLink™. Our mission is to increase the efficiency and accessibility of the secondary market for all participants

Services

Secondary advisory is all we do.

Secondary advisory is all we do.

We have expertise in every area of the secondary market. Whether it’s the sale of a bilion dollar portfolio or an esoteric asset - we bring superior knowledge and insight to the table - so we can deliver better results for our clients.

LP SOLUTIONS

Portfolio sales

Setter provides seamless advisory services to institutions selling portfolios of fund investments, from pricing the portfolio, to preparing marketing materials, managing GP communications, managing data-room and NDAs, collecting and negotiating offers, and supporting at the PSA stage.

Portfolio valuations

Setter provides limited partners with quarterly and annual secondary market liquidity and market valuations on their core and non-core portfolios, as well as one-time market valuations to support internal or external transfers and sale or purchase decisions.

Secondary lending

Setter provides customized advisory services relating to leverage, and access to lenders against private equity portfolios on competitive terms. These solutions allow buyers to enhance pricing offered to sellers, and allow investors to improve ongoing returns and create interim liquidity even outside a sale context.

Structured solutions

Setter supplements clients’ liquidity options by exploring alternatives to a straight sale that include structured solutions such as preferences and risk sharing arrangements, by employing SPVs, derivatives, and synthetic secondaries among other tools.

GP SOLUTIONS

Unicorns and single line sales

Setter expertly guides direct PE investors through the complexities associated with the sale of minority interests in sponsored venture capital and buyout deals, including managing transfer restrictions and company/co-investor relationships. Clients are confident of price maximization via Setter’s deep global coverage in this market.

Portfolio sales

Setter provides customized advisory services to GPs closing old funds, from evaluating the portfolio, to preparing marketing materials and strategy, communicating with portfolio companies, managing data-room and NDAs, collecting and negotiating offers, and supporting at the PSA stage.

Liquidity options for LPs

Setter advises fund managers seeking to provide a liquidity option for existing investors, such as tender offers and large LP replacements, by determining the top market price and identifying buyers who are interested in supporting the incumbent manager on a long term basis with an effective incentive structure.

Fund debt and follow on capital

Setter provides access to debt and equity providers for managers seeking additional capital to grow and support the portfolio or to make a distribution to investors. Our vast global network ensures cost effective terms for annex funds, fund debt, and hybrid debt/equity solutions.

Experience

We've been around the block. 500 times.

We've been around the block. 500 times.

In the secondary market, we’ve seen and done it all. With over 500 transactions under our belt, we have the experience to tailor our process to meet the unique needs of each case. We maximize value discreetly and effectively, while solving problems along the way.

Coverage

Global reach. Unparalleled results.

Global reach. Unparalleled results.

More active relationships across the globe means more value for our clients. We offer uparalleled coverage of buyers and sectors in the secondary market – across all geographies.

Team

22 experts. 1 focus.

22 experts. 1 focus.

Our large team of specialists brings more to the table. More manpower, more information and more active relationships. The result? Unsurpassed reach in every corner of the globe – across all sectors.

Analytics

More Insight.

In the secondary market, knowledge is power. By providing granular custom portfolio analysis and industry-leading market research, we empower our clients by giving them the tools they need to make the most informed decisions.

Setter Liquidity Report

A customized review of an investor's portfolio addressing all aspects of Active portfolio management including line by line saleability and pricing.

  • Customized Analysis
  • Portfolio 1
  • Portfolio 2
  • Portfolio 3
  • Portfolio 4
  • Setter Liquidity Rating
  • Excellent
    12,132
    46%
  • Very Good
    8,336
    31%
  • Good
    4,151
    16%
  • Unrated
    1,850
    7%

Setter Price Report

A semi-annual analysis of secondary market pricing broken down by factors such as fund type, geography, liquidity rating and vintages

  • Variables
  • LBO
    380
    35%
  • VC
    366
    33%
  • Fund of Funds
    352
    32%
  • Energy
    352
    32%
  • Real Estate
    352
    32%
  • Infra
    352
    32%

Most Sought-After Manager Rankings

Based on data from SecondaryLink and directly from the buyer community, we rank and analyse the ‘Most Sought-After Managers’ across various fund types

  • Fund Strategy
  • European Mid-Market
    Top 25
  • Small US LBO
    Top 10
  • Large US LBO
    Top 15
Rank Prior Rank Fund Family Setter Liquidity Rating Prime Buyers

Setter Volume Report

Our semi-annual volume reports provide the most accurate, comprehensive and scientific assessment of the secondary market

  • Secondary Volume
  • 2015
    49.6B
    0.60%
  • 2014
    49.3B
    36.94%
  • 2013
    36.0B
    44.00%
  • 2012
    25.0B
    8.69%
  • 2011
    23.0B
    53.33%
  • 2010
    15.0B
    52.43%
  • 2009
    9.80B
    6.00%
  • Private equity
    37.70B
  • Real estate
    9.20B
  • Hedge funds
    0.84B
  • Infra
    1.60B
Media

We get people talking.

We get people talking.

We do more research, provide deeper analysis and publish more articles. That’s why we’re the most quoted secondary source in the media Read on to see what we're thinking.

NEWS

  • Secondary Investors Say Blackstone Is Their Top Pick
    Institutional Investor(): Bain Capital was the second most popular manager, followed by Advent International Corp, according to the latest ranking by secondary-market advisory firm Setter Capital.
  • Silver Lake pushes into Top 10 of most sought after firms for secondaries deals, Blackstone retain
    AltAssets(): Blackstone has retained its crown as the most sought-after US private equity manager on the secondaries market, new research from Setter Capital has revealed.
  • Blackstone tops list of most sought-after managers on secondary market
    PE Hub(): Blackstone Group’s family of buyout funds is the most popular on the secondary market, maintaining its top position year-over-year in intermediary Setter Capital’s ranking of the 35 most sought-after managers.
  • Setter: fund of funds volumes rocket in H1
    Secondaries Investor(): The volume of fund of funds stakes traded on the secondaries market increased by 289% compared to FY2016, one of a number of big increases.
  • Private equity secondaries dealmaking rebounds from last year’s slump in H1 2017
    AltAssets(): New Setter Capital figures show the private equity secondaries market has made a significant rebound from a sluggish 2016 financial year in the first half of 2016.
  • Western Europe fund stakes price highest in Q2
    Secondaries Investor(): The region priced highest among all fund types apart from venture capital and infrastructure, according to data from Setter Capital.
  • Venture pricing jumps most among strategies
    Secondaries Investor(): Average high bids for stakes in VC funds increased by 11% compared with a year ago, according to intermediary Setter Capital.
  • Preqin Special Report: Secondary Fund Manager Outlook H1 2017
    Preqin(): Preqin just released their latest ‘SECONDARY FUND MANAGER OUTLOOK’, which is based on a survey of secondary fund managers in order to assess their activity in 2016 and their outlook for 2017.
  • Distressed credit had biggest pricing increase in 2016
    Secondaries Investor(): Buyers paid more than 90% of NAV for fund stakes in the strategy as a hedge against possible market falls, according to Setter Capital.
  • Secondaries Market Specialist Managers Gain Ground
    FUND Fire(): A maturing and increasingly competitive market to buy and sell limited partner stakes in private equity funds is pushing many managers that acquire these secondary positions
  • Timber fund secondaries volume grows
    Secondaries Investor(): Setter Capital says timber accounted for the majority of transactions within the $331m in secondary sales of stakes in agriculture and timber funds recorded in 2016.
  • Real estate, hedge funds worst hit in secondaries market deal volume slide
    AltAssets(): Dealmaking on the secondaries market suffered a 15 per cent slump in volume in the 2016 financial year, Setter Capital research shows
  • Return expectations fall for second year running
    Secondaries Investor(): 'PE directs' were underwritten at higher target multiples than purchases of stakes in any type of strategy last year, according to Setter Capital.
  • Private equity secondaries drop in 2016, 3 reports find
    Pensions & Investments(): Transactions on the private equity secondary market fell in 2016, secondary broker data released by NYPPEX, Setter Capital and investment bank Evercore reveal.
  • Secondary Deal Volume Fell 15% Last Year
    Wall Street Journal(): Despite all the new capital flooding into secondary funds, the volume of deals fell 15% last year as market volatility made it more difficult to price and close transactions.
  • Infra pricing tops all strategies for first time in five years
    Secondaries Investor(): Average top bids for stakes in infrastructure funds have surged 33% since 2011, according to advisory firm Setter Capital.
  • Pricing falls in Q3 – Setter Capital
    Secondaries Investor(): Secondaries funds themselves were among four strategies that had rises in pricing amid overall drops during the period....
  • A super-secret meeting of secondary buyers
    PE Hub(): There was a super-secret meeting in the midtown area of Manhattan, not far from the Waldorf-Astoria surrounded by law enforcement and federal homeland security types there ...
  • Pensions were biggest sellers in H1
    Secondaries Investor(): Sales by pensions surged to account for over a third of sales by volume amid a rise in disposals by opportunistic sellers, according to Setter Capital's mid-y...
  • Use of intermediaries grows in H1
    Secondaries Investor(): The use of intermediaries is expected to continue to rise as new agents enter the market and the buyer universe grows, according to a report by Set...
  • Secondaries: Stick or twist?
    Asian Venture Capital Journal(): After several years of rapid growth, secondaries volumes slowed in the first half of 2016 (per Setter Capital's volume report H1 2016), while f...
  • Kreutzer’s Take: Public Stocks Sneeze and Secondary Market Gets the Sniffles
    Wall Street Journal(): If you want to gauge how secondary deal volume will fare this year, keep your eyes on public stock markets....
  • Stapled deals rose in H1 2015
    Secondaries Investor(): Stapled deals, such as Palamon's recent transaction involving three of its funds, increased during H1 2015, according to a report by Setter Capital....
  • Buyers pessimistic about returns and valuations – survey
    Secondaries Investor(): Expected returns for secondaries deals completed in the first half are down compared with a year earlier, according to a report by Sette....
  • Secondary deal volume declines in the first half of 2016
    Opalesque(): A new report out from secondary market broker Setter Capital shows that secondary deal volume is down some 10 percent for the first half of 2016. The downwa...
  • Secondaries market slowdown predicted after years of booming growth
    AltAssets(): The booming secondaries market looks set for a slowdown after years of intense growth, according to the latest research from Setter Capital....
  • Secondary market deals down nearly 10% in first half of 2016 — report
    Pensions & Investments(): Deals on the alternative investment secondary market dropped 9.7% to $18.6 billion in the first half of this year from $20.6 billion in the ...
  • PE deals grow slightly amid wider secondaries transaction squeeze
    AltAssets(): The booming global secondaries market stuttered in the first half of 2015, with completed transactions dropping more than five per cent year on year, Setter Capit...
  • Energy bids fall most amid broader drop
    Secondaries Investor(): Average high bids were 20% down this year compared with a year earlier, according to a report by advisory firm Setter Capital....
  • Deal volume hits $100bn
    Secondaries Investor(): A compelling idea, we’ll admit, but not true. It’s one of the thought-provoking statements that Secondaries Investor has tested out on market particip...
  • For sale: real estate
    Secondaries Investor(): Real estate secondaries has been a hot topic this year, with dealmakers predicting $9.4 billion will change hands, according to a survey by Setter Capi...
  • Intermediated deals rose in 2015
    Secondaries Investor(): Two-thirds of last year's secondaries deal volume was conducted through an intermediary, a 12% rise from the previous year, according to a Setter Cap...
  • Infrastructure secondaries are poised to grow
    Secondaries Investor(): Trading stakes in infrastructure funds currently represents a tiny part of the secondaries market; only around $1.6 billion was traded in 2015, accord...
  • CPPIB buys $1bn PE portfolio from Australia’s Future Fund
    Secondaries Investor(): Australia's $85bn sovereign wealth fund brought the stakes to market in the second half of last year in a process run by Setter Capital....
  • Completed secondaries transactions slightly increased in 2015, with pension funds the biggest sellers
    AltAssets(): The total volume of completed transactions in the secondaries market increased slightly in 2015, hitting $49.6bn ...
  • Real estate, agri secondaries rose in 2015
    Secondaries Investor(): Agri and timber secondaries saw the biggest growth in secondaries deal volume, rising by more than half in 2015, according to a report by Setter Ca....
  • Direct secondaries slow as market stays busy
    PE Hub(): The secondary market is as active as ever, but the amount of direct secondaries, like restructurings, slowed last year, according to intermediary Setter Capital....
  • Europe’s 10 most desired small buyout firms
    Real Deals Europe(): Setter Capital, a Toronto-based adviser that works with institutional investors and fund managers, has compiled a ranking of the most sought-after Eur...
  • WestView Capital is most sought-after small US LBO firm
    Secondaries Investor(): Blue Point Capital Partners came in second place while VMG Partners was in third position, according to a third-quarter report by Setter Capital....
  • Setter Finds Top Small European Buyout Funds Outprice U.S. Peers
    Wall Street Journal(): Many things seem to be more expensive in Europe, including secondary stakes in certain small buyout funds, according to research from secondary inter...
  • Norway-based Herkules most in-demand small European LBO manager
    AltAssets(): Norwegian private equity firm Herkules Capital is the most popular small European buyout manager on the secondaries market, according to new research....
  • Herkules Tops Secondaries Ranking
    PE News(): Norwegian private equity firm Herkules has topped Setter Capital’s list of the most sought-after small European buyout firms in the secondaries m....
  • And the Most In-Demand Mid-Market Fund Stakes Are…
    Wall Street Journal(): Northern Europe-focused firm IK Investment Partners has topped Setter Capital’s list of the most sought after European mid-market private equity fu...
  • IK funds most in demand in mid-market secondaries
    eFinancial News(): A list of the most sought after European mid-market private equity fund managers has named Northern Europe-focused firm IK Investment Partners in top pla...
  • IK Funds Most In Demand in Mid-Market Secondaries
    Dow Jones PE & Venture Capital(): Northern Europe-focused firm IK Investment Partners has topped Setter Capital's list of the most sought after European mid-market priv...
  • Debt fuels competition for fund stakes in H1
    Secondaries Investor(): The use of debt is allowing buyers to remain competitive when bidding on large fund stakes, and this has driven up pricing, according to new research ...
  • Energy Fund Secondaries Out of Favor
    Wall Street Journal(): Energy-focused private equity funds fell out of favor with investors in second-hand private equity fund stakes in the first half of the year, according ...
  • Buyers expect NAV to stabilise in H2
    Secondaries Investor(): Buyers in the secondaries market expect the value of funds to stabilise in the second half of this year, according to a report by intermediary Setter...
  • Secondary buyers see pricing stabilizing in second half: survey
    PE Hub(): Buyers in the secondary market are betting pricing won’t change much in the second half of the year, which could indicate that some believe the market is at a peak....
  • Setter Capital: Secondary Market Activity Slips 5.1% in 1H/15
    FIN Alternatives(): Secondary deal volume slipped 5.1% in the first half of 2015 to $20.6 billion after two years of strong growth, according to new research from intermediary...
  • Volume of PE secondaries up in H1, Setter reports
    Secondaries Investor(): Most of the volume was driven by large players and transactions of more than $600 million. Energy and real estate transaction volume was down....
  • Secondary Direct Volume Climbs 21% in 1H to $5.5B
    Wall Street Journal(): Buyers are plowing full steam ahead into the direct secondary market this year, although large fund portfolio stakes continue to dominate the market...
  • CVC tops Setter’s most sought-after european large LBO managers on the secondary market
    AltAssets(): CVC Capital Partners has come out on top as the most in demand European large leveraged buyout manager on the ...
  • Terra Firma joins and CVC tops list of most-sought European buyout fund secondaries
    Pensions & Investments(): Terra Firma Capital Partners has been added to the list of the 20 most sought-after managers of large-cap ...
  • Secondaries: Here are the 20 most sought-after European large buyout funds
    PE Hub(): When it comes to European private equity, it’s all about CVC Capital Partners....
  • CVC’s Funds Most in Demand in Secondaries Market
    Wall Street Journal(): CVC Capital Partners has topped an annual list of most in-demand European large buyout funds in the secondaries market for ...
  • Buyouts Snapshot: Secondaries players debate ‘third option’ in fund restructurings
    PE Hub(): Should limited partners have a “third option” in a fund restructuring beyond selling or rolling over on new terms?...
  • ABRY, HIG most sought-after US mid-market secondaries managers
    AltAssets(): ABRY Partners and HIG Capital topped a ranking of the 35 most sought-after US mid-market buyout managers in the secondaries market in the Q2 accordi...
  • Setter Capital: The Most Sought-After Manager Rankings for Q2 2015
    Deal Market(): Setter Capital, the independent advisory firm, has published its results for the most sough-after US- mid-market LBO managers for the second quarter of the year, ...
  • Blackstone, Apollo most desired secondary buyout managers
    AltAssets(): Blackstone Capital Partners, Apollo Investment Fund and Bain Capital are the most sought-after US buyout managers on the secondary market according to the Setter ...
  • Abry Partners Brings All the Secondary Buyers to the Yard
    Wall Street Journal(): Abry Partners tops the list of the most sought-after midmarket managers in the secondary market, according to rankings compiled by adviser Setter Capital....
  • Abry Partners tops the list of the most sought-after midmarket managers in the secondary market, according to rankings compiled by adviser Setter Capital.
    Secondaries Investor(): The firms were the only ones rated excellent by Setter Capital in its list of 35 most sought-after US mid-market ...
  • Willowridge partner Bego, organizer of annual secondaries dinner, leaves firm
    PE Hub(): Mike Bego, a partner at secondaries firm Willowridge Partners, who is known across the industry for organizing the super-secret annual secondaries dinner, left the ...
  • Here are the 35 most sought-after U.S. LBO funds on secondary market
    PE Hub(): The top 35 most sought-after U.S. LBO funds on the secondary market as of the second quarter priced at an average of 97.3 percent of net asset value, according to fresh...
  • Setter Capital publishes list of most sought US LBO managers
    Investment Europe(): A list of the 35 most sought after US large-LBO managers in the secondaries market has been published by advisory firm Setter Capital....
  • Secondary buyers hungry for stakes in mid-market buyout funds: survey
    PE Hub(): Secondary buyers found stakes in middle-market buyout funds especially attractive last year, according to a recent survey by UBS, which advises on secondary deals. And...
  • Unveiling the ‘oracle’ of the secondaries market
    PE Hub(): In October, we reported on a super-exclusive dinner in Manhattan for buyers in the secondary market, where attendees guessed on total secondary volume for 2014....
  • Secondary volume goes through the roof
    PE Hub(): This is just getting crazy now.Total volume in the secondary market hit $49.3 billion last year, a 37 percent increase from 2013, according to a report from in...
  • Secondaries deal surge sees $49.3bn of deals done in 2014
    AltAssets(): The burgeoning private equity secondaries market had its busiest year in 2014 after dealmakers completed about $49.3bn of transactions, new research from...
  • Setter Capital Secondary Market Estimates $49.3 Billion In 2014
    HedgeCo.Net(): New York (HedgeCo.Net) – 2014 marked the busiest year for the secondary market to date with an estimated $49.3 billion in completed transactions, according to ...
  • Secondaries Investor Setter: deal volume exceeds $49bn
    Secondaries Investor(): Private equity secondaries accounted for three-quarters of total activity last year....
  • Alternatives secondaries volume hit $49.3bn in 2014, says Setter Capital report
    Investment Europe(): The secondary market for private equity, real estate, infrastructure and hedge funds for the full year 2014 reached $49.3bn, according to the latest annual ...
  • Is this a good time to do a secondary deal?
    PE Secondaries(): This should be an all-time record quarter for the secondary industry. I would estimate close to $10 billion of private equity transactio...
  • The secondaries industry’s alluring ‘backwater’
    Secondaries Investor(): Will we start to see more secondaries investors buying and selling infrastructure and real assets fund interests? For some time now, there’s been ta...
  • Secondaries volume to reach $46bn in 2020
    Secondaries Investor(): The highest expected volume for secondaries in 2020 is $95bn, according to a poll conducted by Setter Capital....
  • 2014 Projected secondary returns lower, but strong
    PE Secondaries(): Secondary fund buyers predict a 1.39x gross ROI for 2014 vintage secondary fund transactions. This data is the result of a survey at t...
  • How high will the secondaries market go?
    PE Hub(): Michael Bego, a partner at secondary firm Willowridge Partners in New York, has organized an ultra-exclusive dinner every fall for the past nine years by. It is open ...
  • Secondary PE deals on track to have record year
    The Deal Pipeline(): With deals such as the sale this week of half of JPMorgan & Co.'s interests in its private equity unit One Equity Partners, transaction volume in the sec...
  • Private equity: second-hand business
    Financial Times(): The secondary buyout market is coming of age...
  • New sellers come to market
    Secondaries Investor(): Non-traditional secondaries sellers are becoming an increasingly important source of activity, according to Setter Capital....
  • Dividing data
    Secondaries Investor(): It’s that time of year again
  • Secondary market transaction volume jumps in first 6 months — report
    Pensions & Investments(): Transaction volume on the alternative investments secondary markets was up 47% to $22 billion in the first half of this year compared with the first ...
  • Setter Capital reports $22bn volumes in secondary market
    Investment Europe(): The Setter Capital Volume Report – H1 2014, which covers the secondary market for private equity, real estate, infrastructure and hedge funds for the first ha...
  • Setter Capital estimates $22 bln total secondaries volume in first half
    PE Hub(): Here it comes again … the second shot across the industry at estimating half-year volume on the hyperactive secondaries market....
  • Secondary Market Activity Soars
    FIN Alternatives(): The secondary market for alternative investments reached new heights in the first half, according to a survey from Setter Capital....
  • Secondaries market on a tear
    Real Deals Europe(): The total value of secondaries deals, the most clandestine corner of private equity, was up 33 per cent for the first half of the year, as sellers exploit the...
  • Private Equity Secondaries on Pace for Record Year
    Wall Street Journal(): Private equity investors are taking advantage of a wealth of willing buyers, cashing out fund stakes at a near record pace, and getting good prices to boot....
  • Understanding the nuances of secondary pricing in private equity
    AltAssets(): Most commentators contend generally that secondary pricing across all private equity strategies has risen in the last several years, but the important question remains
  • Setter: Top funds fetch higher prices
    Secondaries Investor(): When it comes to pricing, less-sought-after funds get a rougher deal compared their well-known peers, according to Toronto-based Setter’s latest report on th...
  • Newer, top-performing funds attract premium secondaries prices
    PE Hub(): For the most sought-after private equity funds on the secondary market raised in the past few years, pricing has risen into premium levels, according to a new pricing stu...
  • Most sought-after Asian funds of Q2 2014
    Secondaries Investor(): CHD China Fund, Pacific Equity Partners and CVC Asia top Setter Capital’s list of the most in-demand Asia-Pacific funds in the secondaries market....
  • View from the secondary market: 25 most sought-after Asia-Pacific funds
    PE Hub(): the next installment of our ongoing series of the secondary market view of private equity funds, we have a list of the 25 most sought-after Asia-Pacific funds from second...
  • Setter Capital Presents Most Sought After Secondaries Funds
    Deal Market(): Setter Capital, the Toronto based secondaries advisor, has put together a comprehensive list of the most popular buyout funds in Europe within the secondaries market, ...
  • CVC, Apax and Advent most sought-after Euro LBO funds
    Secondaries Investor(): The Canadian advisory firm Setter Capital has cited its 40 most sought-after European leveraged buyout funds on the secondaries market....
  • CVC and Apax most sought-after Europe funds
    Private Equity International(): CVC and Apax most sought-after Europe funds according to PEI International....
  • Setter Capital Ranks Most Popular European Buyout Funds for Secondary Investors
    Wall Street Journal(): The managers of the most sought-after European private equity funds on the secondaries market have be...
  • A view from the secondary market: 40 most sought-after European buyout funds
    PE Hub(): We’ve been examining secondary market demand for certain private equity and venture capital funds – so far we’ve explored the most sought after U.S. buyout funds and ventu...
  • Sequoia, NEA and Accel most sought-after US VC funds
    Secondaries Investor(): The firms top Setter Capital’s new list of the 25 most sought-after US venture capital funds on the secondaries market....
  • View from the secondary market: Sought-after venture capital funds
    PE Hub(): Back in March we ran a piece about the 50 most sought after U.S. buyout funds in the secondary market compiled by secondary broker Setter Capital. While unsurprisingly, ...
  • ABRY and HIG most sought-after US mid-market funds
    Secondaries Investor(): Canadian advisory firm Setter has released its top 50 mid-market LBO funds on the secondaries market....
  • Brand Names Place High in Setter's Midmarket Liquidity Rankings
    Dow Jones PE & Venture Capital(): When it comes to attracting buyers on the secondary market, a brand name may matter more than expected, particularly in the midmarket, accor...
  • Setter Capital increases efficacy of global secondaries platform
    PE Hub(): Canadian secondaries advisory and intermediary firm Setter Capital has introduced enhancements to Secondary Link, its search engine and blog for sharing global market in...
  • Bain, BX and ABRY most sought-after buyout stakes
    Secondaries Investor(): Bain Capital, Blackstone Capital Partners and ABRY Partners top the ranks of the 50-most sought after US buyout funds on the secondaries market, according...
  • Bain, BX and ABRY most sought-after stakes
    Secondaries Investor(): The firms top Setter Capital's list of the 50 most sought-after US LBO funds. Providence, Welsh Carson and Kelso round out the 24 funds given an 'excellent'...
  • Setter Capital – making waves in the global secondary market Setter Capital – making waves in the global secondary market
    PE Hub(): This week my colleague Chris Witkowsky, editor of peHUB, wrote about the wide gap in estimates of the size of the “compulsively secretiv...
  • Secondary deal volume controversy and the shadow market
    PE Hub(): There’s a huge controversy in the private equity secondaries market these days over just how much volume has been transacted. Ok, I might be exaggerating, but as far a...
  • Real estate secondaries hit $5.3bn in 2013
    PERE News(): More than 14% of all secondaries deals last year were real estate purchases, according to Toronto-based advisory firm Setter Capital....
  • Hedge fund side pocket secondary market volumes top $1.6bn in 2013
    Opalesque(): A new report out from Setter Capital shows that secondary market volumes for hedge fund side pockets was up again in 2013. Data shows that LP's are becoming mor...
  • Secondary deal volume could increase in first half of 2014
    AltAssets(): Secondary deal volumes in the first half of 2014 is widely expected to be similar or higher than in the same period of 2013, according to the latest report from Se...
  • Private Equity Braces For Robust Year in Secondary Deals
    Institutional investor(): The private equity industry is gearing up for a robust year of secondary deals in 2014, as pension funds are expected to take to the market to sell no...
  • Alternatives secondary market hits $36bn says Setter Capital
    Investment Europe(): Setter Capital, the investment adviser on alternative investments, has published data suggesting the secondary market hit a value of $36bn through 2013....
  • Private equity secondary deal volume totals $36 bln: survey
    PE Hub(): Earlier this year, secondary market intermediary Setter Capital stirred some controversy with a half-year report showing secondary deal volume at around the $15 bill...
  • Wild West no more
    Infrastructure Investors(): The secondaries market has come a long way, as evidenced by Setter Capital’s new online platform. Peter McGrath discusses it with Andy Thomson....
  • Just how active is the secondary market this year?
    PE Hub(): However, some secondary market professionals (namely those who work in the smaller end of the market), have consistently told me they have been as busy as ever this...
  • Setter Capital Estimates Secondary Volume Hit $15B in First Half
    Dow Jones PE & Venture Capital(): Although many secondary buyers say that deal volume has slowed so far this year compared to 2012, a survey from Setter Capital suggests it...
  • Liquidation model similar to hedge fund side pockets
    Pensions & Investments(): In both cases, investors had been left with illiquid investments and little hope of cashing out. But hedge fund managers and investors in side pocket ...

PUBLICATIONS

  • Setter Capital Volume Report – H1 2017
    : Setter Capital is pleased to release its Setter Capital Volume Report – H1 2017. To accurately capture the breadth of the secondary market for alternatives, Setter Capital conducted a twenty six question survey of the top secondary buyers.
  • The 20 Most Sought-After Small European LBO Managers on the Secondary Market™
    : Setter Capital has released the 20 Most Sought-After Small European LBO Managers on the Secondary Market™ - Q3 ...
  • The 30 Most Sought-After European Mid-Market LBO Managers on the Secondary Market™ - Q3 2015
    : Setter Capital has released the 30 Most Sought-After European Mid-Market LBO Managers on the Second...
  • Setter Capital Volume Report – H1 2016
    : Setter Capital is pleased to release its Setter Capital Volume Report – H1 2016. To accurately capture the breadth of the secondary market for alternatives, Sette...
  • Setter Price Report - April 2016
    : This Setter Price Report analyses average top prices across various fund strategies and time intervals. The average top prices are generally derived from prices tha...
  • Secondary buyers feed 180,000 in Sierra Leone
    : At the London Secondaries Dinner in May, organized by Setter Capital and Kline Hill, attendees raised $20,000 for the charity ‘Canadian Food for Children’. Canadian ...
  • Setter Capital Volume Report – FY 2015
    : Setter Capital is pleased to release its Setter Capital Volume Report – FY 2015. To accurately capture the breadth of the secondary market for alternatives, Sett...
  • The 20 Most Sought-After Small US LBO Managers on the Secondary Market™
    : Setter Capital has released the 20 Most Sought-After Small US LBO Managers on the Secondary Market™ - Q3 2015....
  • Setter Capital Volume Report – H1 2015
    : Setter Capital is pleased to release its Setter Capital Volume Report – H1 2015. To accurately capture the breadth of the secondary market for alternatives, Sette...
  • The 20 Most Sought-After European Large LBO Managers on the Secondary Market™ - Q2 2015
    : Setter Capital has released the 20 Most Sought-After Western European Large LBO Managers on the Secondary Market - Q2 ...
  • The 35 Most Sought-After US Mid-Market LBO Managers on the Secondary Market - Q2 2015
    : Setter Capital has released the 35 Most Sought-After US Mid-Market LBO Managers on the Secondary Market - Q2 2015....
  • The 35 Most Sought-After Large US LBO Managers on the Secondary Market - Q2 2015
    : Setter Capital has released the 35 Most Sought-After Large US LBO Managers on the Secondary Market - Q2 2015....
  • Setter Capital Volume Report – FY 2014
    : Setter Capital is pleased to release its Setter Capital Volume Report FY 2014. To accurately capture the breadth of the secondary market for alternatives, Setter...
  • The Setter Volume Challenge
    : Every fall, Michael Bego (a partner at private equity secondary firm Willowridge Partners) organizes a private, informal get together of the largest buyers in th...
  • Setter Capital Volume Report H1 2014
    : Setter Capital is pleased to release its Setter Capital Volume Report H1 2014. To accurately capture the breadth of the secondary market for alternatives, Setter Ca...
  • Setter Capital - Private Equity Secondary Market Pricing - H1 2014
    : In this report, Setter Capital’s Robert McGrath explains why tracking discounts to NAV gives an incomplete and often misleading representation of the strength of th...
  • The 40 Most Sought after Euro LBO funds on the Secondary Market – Q1 2014
    : SecondaryLink has released The 40 Most Sought after Euro LBO funds on the Secondary Market – Q1 2014, a report based on both the Setter Capital Liquidity Rating and ...
  • The 50 Most Sought after US Mid-Market LBO funds on the Secondary Market – Q1 2014
    : SecondaryLink has released The 50 Most Sought after US Mid-Market US LBO funds on the Secondary Market – Q1 2014, a ...
  • Setter Capital Volume Report - FY 2013
    : Setter Capital is pleased to release its 2013 secondary market volume report. To accurately capture the breadth of the secondary market for alternatives, Setter C...
  • Want to better understand the liquidity risk and saleability of your portfolio? Run the Setter Capital Liquidity Analysis
    : Setter Capital’s latest initiative, the Setter Capital Liquidity Analysis, is being made available to member...
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Setter Capital Inc. 77 Bloor Street West, Ste 1220 Toronto, ON, Canada M5S 1M2 +1 416 964 9555 P +1 416 964 0699 F office2@settercap.com

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