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.
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.
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 $30 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 extensive secondary market network and proprietary data tools. Our mission is to increase the efficiency and accessibility of the secondary market for all participants
We have expertise in every area of the secondary market. Whether it’s the sale of a billion dollar portfolio or an esoteric asset - we bring superior knowledge and insight to the table - so we can deliver better results for our clients.
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.
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.
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.
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.
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.
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.
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.
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.
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.
More active relationships across the globe means more value for our clients. We offer unparalleled coverage of buyers and sectors in the secondary market – across all geographies.
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.
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.
A semi-annual analysis of secondary market pricing broken down by factors such as fund type, geography, liquidity rating and vintages
Based on data directly from the buyer community, we rank and analyse the ‘Most Sought-After Managers’ across various fund types
| Rank | Prior Rank | Fund Family | Setter Liquidity Rating © | Prime Buyers |
|---|---|---|---|---|
Our semi-annual volume reports provide the most accurate, comprehensive and scientific assessment of the secondary market
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.
| Setter has a singular focus on secondaries Private Equity Wire(Dec. 11, 2023): With a large team of experts sharing a singular focus on secondary deals, Setter Capital has expertise in every area of the market... Read more |
| Loan Note: Debt secondaries shoot up; junior capital in favour Private Debt Investor(Aug. 14, 2023): Albeit from a relatively low base, debt secondaries shot up 94.5 percent to $2.04 billion compared with the first half of last year. Increases were also seen in infra.. Read more |
| US PE exits slow to a trickle in Q1 Pitchbook(May 2, 2023): Sales of PE-backed companies in the US have been sluggish in 2023 as buyout firms avoid offloading their investments at lower valuations. Read more |
| The year of the LP-led comeback PERE(May 2, 2023): A fundamental shift in capital markets is forcing many institutional investors to rethink their portfolios.. Read more |
| Buyout barons reach deep into their bags of tricks Thomson Reuters(Feb. 15, 2023): With the cheap borrowing that fueled record-breaking years of leveraged buyouts gone, firms are digging deeper into their bags of tricks. Read more |
| Pension funds expected to become largest sellers on private equity secondary market in H2 IPE(Aug. 23, 2022): Pension funds are expected to become the largest sellers on the private equity secondary market in the second half of the year with 38% of the total transaction volume, Read more |
| Asian unicorns are trading 40% cheaper in private markets The Economic Times(Aug. 2, 2022): Asia’s most well known startups are trading 40% cheaper than six months ago in private transactions amid a rout triggered by Chinese regulatory headwinds and the global. Read more |
| Secondary market activity resilient in volatile first half Pensions&Investments(Aug. 1, 2022): The volume of alternative investment secondary market deals in the first half of this year surpassed the first half of 2021 despite a drop in the number of transactions, Read more |
| Higher Oil Prices Have Yet to Lure Back Secondary Buyers The Wall Street Journal(April 24, 2022): Secondary deal volume for energy funds rose slightly last year but many buyers remain cautious.. Read more |
| Institutions turn to secondary market to secure their gains Pensions&Investments(Feb. 14, 2022): The volume of alternative investment secondary market deals in the first half of this year surpassed the first half of 2021 despite a drop in the number of transactions. Read more |
| Alternative investments secondary market up 132.2 per cent in 2021, says Setter Capital Private Equity Wire(Feb. 1, 2022): In the midst of the Covid-19 pandemic, the alternative investments secondary market – private equity, real estate, infrastructure, timber, hedge funds – hit a record USD Read more |
| Secondary Markets Just Had Their Biggest Year Ever Institutional Investor(Jan. 31, 2022): Secondary markets just had a record-breaking year — and their surge is set to continue into 2022, according to Setter Capital. Read more |
| Blackstone Shoots for Record $20B Secondaries Fundraise FUNDfire(June 23, 2021): Blackstone Group is aiming to log the largest secondaries fundraise on record with its latest flagship vehicle, targeting $20 billion for its ninth Strategic Partners.. Read more |
| Newer firms taking a fresh approach to recapitalization Pensions&Investments(May 17, 2021): Recapitalizations are no longer a way for veteran real estate managers to move the odds and ends left over in their funds into new sidecar funds. Read more |
| Managers Surge into Secondaries-Fueled Follow-on Funds FUNDfire(April 21, 2021): Private equity and real assets managers have flocked to the “continuation fund” concept over the past year that sells attractive portfolio companies out of their exist.. Read more |
| GIP, MIRA and EQT infrastructure funds most popular on secondary market IPE Real Assets(Dec. 8, 2020): Global Infrastructure Partners, Macquarie Infrastructure & Real Assets and EQT are the most sought-after infrastructure fund managers on the secondary market, according Read more |
| Pricing rebounds from pandemic - inflicted lows - Setter Secondaries Investor(Sept. 14, 2020): The average high bid for buyout funds surpassed 90% of NAV in the three months to end - August, according to data from the intermediary.. Read more |
| Secondaries transaction volume plummets in H1 Secondaries Investor(July 27, 2020): Private equity volume dropped 58.5% and real estate by 53.4%, with infrastructure showing resilience, according to Setter Capital. Read more |
| Alternative Asset Investors Should Brace for Leaner Payouts Bloomberg(May 8, 2020): Investors should brace for sharply leaner payouts from venture capital, private equity and private debt funds for at least the rest of the year, Read more |
| Virus fallout putting secondary markets into chaotic tumble Pensions&Investments(April 6, 2020): The specter of evaporating liquidity and rising capital calls in light of the COVID-19 crisis may cause some asset owners to consider or even launch a sale in the alt... Read more |
| At the back of the secondaries queue Secondaries Investor(Feb. 13, 2020): Private debt is behind other alternative asset classes when it comes to secondary activity and opinions differ as to when it’s worth taking seriously.. Read more |
| Setter: PE secondary market seen increase of 10.8% year on year IPE International(Jan. 31, 2020): The secondary market for private equity has seen an increase of 10.8% year on year, to a total of $77.82bn (€70.3bn), according to independent advisory firm Setter Cap.. Read more |
| Why secondaries deals are sparking to life Private Debt Investor(Oct. 24, 2019): There are signs that a big potential source of dealflow may be starting to develop in the private debt market. Read more |
| Real estate secondaries volumes dip in H1 2019 - Setter PERE(Sept. 17, 2019): Real estate secondaries transaction volumes fell 39.2% during the first half of 2019 but the dip is expected to be temporary, according to private equity secondary advis Read more |
| Private equity secondary deals soar Financial Times(Sept. 16, 2019): Transactions worth a record $42bn are completed in the first half of 2019. Read more |
| Secondaries volume up 25% in H1 - research Unquote(Sept. 12, 2019): Setter Capital's latest research reveals a sizeable uptick in private debt deals, though private equity secondaries still dominate the market. Read more |
| Secondaries soar to ‘staggering’ $46bn in H1 to put record 2018 full-year result in sights AltAssets(Sept. 11, 2019): The soaring secondaries market looks set for another record year in 2019 after reaching a “staggering” $46bn.. Read more |
| Pricing falls in Q3 – Setter Capital Secondaries Investor(Oct. 17, 2016): Secondaries funds themselves were among four strategies that had rises in pricing amid overall drops during the period.... Read more |
| Herkules Tops Secondaries Ranking PE News(Oct. 5, 2016): Norwegian private equity firm Herkules has topped Setter Capital’s list of the most sought-after small European buyout firms in the secondaries m.... Read more |
| A super-secret meeting of secondary buyers PE Hub(Sept. 23, 2016): 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 ... Read more |
| Pensions were biggest sellers in H1 Secondaries Investor(Sept. 14, 2016): 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... Read more |
| Use of intermediaries grows in H1 Secondaries Investor(Sept. 7, 2016): 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... Read more |
| Secondaries: Stick or twist? Asian Venture Capital Journal(Sept. 7, 2016): 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... Read more |
| Kreutzer’s Take: Public Stocks Sneeze and Secondary Market Gets the Sniffles Wall Street Journal(Sept. 1, 2016): If you want to gauge how secondary deal volume will fare this year, keep your eyes on public stock markets.... Read more |
| Stapled deals rose in H1 2015 Secondaries Investor(Aug. 31, 2016): Stapled deals, such as Palamon's recent transaction involving three of its funds, increased during H1 2015, according to a report by Setter Capital.... Read more |
| Buyers pessimistic about returns and valuations – survey Secondaries Investor(Aug. 31, 2016): Expected returns for secondaries deals completed in the first half are down compared with a year earlier, according to a report by Sette.... Read more |
| Secondary deal volume declines in the first half of 2016 Opalesque(Aug. 31, 2016): 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... Read more |
| Secondaries market slowdown predicted after years of booming growth AltAssets(Aug. 30, 2016): The booming secondaries market looks set for a slowdown after years of intense growth, according to the latest research from Setter Capital.... Read more |
| Secondary market deals down nearly 10% in first half of 2016 — report Pensions & Investments(Aug. 29, 2016): 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 ... Read more |
| Debt fuels competition for fund stakes in H1 Secondaries Investor(Aug. 25, 2016): 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 ... Read more |
| PE deals grow slightly amid wider secondaries transaction squeeze AltAssets(Aug. 18, 2016): 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... Read more |
| Energy bids fall most amid broader drop Secondaries Investor(June 15, 2016): Average high bids were 20% down this year compared with a year earlier, according to a report by advisory firm Setter Capital.... Read more |
| Deal volume hits $100bn Secondaries Investor(May 20, 2016): 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... Read more |
| For sale: real estate Secondaries Investor(May 13, 2016): 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... Read more |
| Intermediated deals rose in 2015 Secondaries Investor(April 12, 2016): 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... Read more |
| Infrastructure secondaries are poised to grow Secondaries Investor(March 4, 2016): Trading stakes in infrastructure funds currently represents a tiny part of the secondaries market; only around $1.6 billion was traded in 2015, accord... Read more |
| CPPIB buys $1bn PE portfolio from Australia’s Future Fund Secondaries Investor(Feb. 24, 2016): 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.... Read more |
| Completed secondaries transactions slightly increased in 2015, with pension funds the biggest sellers AltAssets(Feb. 24, 2016): The total volume of completed transactions in the secondaries market increased slightly in 2015, hitting $49.6bn ... Read more |
| Real estate, agri secondaries rose in 2015 Secondaries Investor(Feb. 11, 2016): 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.... Read more |
| Direct secondaries slow as market stays busy PE Hub(Feb. 8, 2016): The secondary market is as active as ever, but the amount of direct secondaries, like restructurings, slowed last year, according to intermediary Setter Capital.... Read more |
| Europe’s 10 most desired small buyout firms Real Deals Europe(Dec. 11, 2015): Setter Capital, a Toronto-based adviser that works with institutional investors and fund managers, has compiled a ranking of the most sought-after Eur... Read more |
| WestView Capital is most sought-after small US LBO firm Secondaries Investor(Dec. 2, 2015): Blue Point Capital Partners came in second place while VMG Partners was in third position, according to a third-quarter report by Setter Capital.... Read more |
| Setter Finds Top Small European Buyout Funds Outprice U.S. Peers Wall Street Journal(Dec. 1, 2015): Many things seem to be more expensive in Europe, including secondary stakes in certain small buyout funds, according to research from secondary inter... Read more |
| Norway-based Herkules most in-demand small European LBO manager AltAssets(Oct. 6, 2015): Norwegian private equity firm Herkules Capital is the most popular small European buyout manager on the secondaries market, according to new research.... Read more |
| And the Most In-Demand Mid-Market Fund Stakes Are… Wall Street Journal(Sept. 21, 2015): Northern Europe-focused firm IK Investment Partners has topped Setter Capital’s list of the most sought after European mid-market private equity fu... Read more |
| IK funds most in demand in mid-market secondaries eFinancial News(Sept. 21, 2015): 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... Read more |
| IK Funds Most In Demand in Mid-Market Secondaries Dow Jones PE & Venture Capital(Sept. 21, 2015): Northern Europe-focused firm IK Investment Partners has topped Setter Capital's list of the most sought after European mid-market priv... Read more |
| Energy Fund Secondaries Out of Favor Wall Street Journal(Aug. 17, 2015): 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 ... Read more |
| Buyers expect NAV to stabilise in H2 Secondaries Investor(Aug. 17, 2015): 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... Read more |
| Secondary buyers see pricing stabilizing in second half: survey PE Hub(Aug. 17, 2015): 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.... Read more |
| Setter Capital: Secondary Market Activity Slips 5.1% in 1H/15 FIN Alternatives(Aug. 17, 2015): 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... Read more |
| Volume of PE secondaries up in H1, Setter reports Secondaries Investor(Aug. 17, 2015): Most of the volume was driven by large players and transactions of more than $600 million. Energy and real estate transaction volume was down.... Read more |
| Secondary Direct Volume Climbs 21% in 1H to $5.5B Wall Street Journal(Aug. 17, 2015): Buyers are plowing full steam ahead into the direct secondary market this year, although large fund portfolio stakes continue to dominate the market... Read more |
| CVC tops Setter’s most sought-after european large LBO managers on the secondary market AltAssets(Aug. 11, 2015): CVC Capital Partners has come out on top as the most in demand European large leveraged buyout manager on the ... Read more |
| Terra Firma joins and CVC tops list of most-sought European buyout fund secondaries Pensions & Investments(Aug. 11, 2015): Terra Firma Capital Partners has been added to the list of the 20 most sought-after managers of large-cap ... Read more |
| Secondaries: Here are the 20 most sought-after European large buyout funds PE Hub(Aug. 10, 2015): When it comes to European private equity, it’s all about CVC Capital Partners.... Read more |
| CVC’s Funds Most in Demand in Secondaries Market Wall Street Journal(Aug. 10, 2015): CVC Capital Partners has topped an annual list of most in-demand European large buyout funds in the secondaries market for ... Read more |
| Buyouts Snapshot: Secondaries players debate ‘third option’ in fund restructurings PE Hub(Aug. 3, 2015): Should limited partners have a “third option” in a fund restructuring beyond selling or rolling over on new terms?... Read more |
| ABRY, HIG most sought-after US mid-market secondaries managers AltAssets(July 29, 2015): 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... Read more |
| Setter Capital: The Most Sought-After Manager Rankings for Q2 2015 Deal Market(July 27, 2015): 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, ... Read more |
| Blackstone, Apollo most desired secondary buyout managers AltAssets(July 26, 2015): 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 ... Read more |
| Abry Partners Brings All the Secondary Buyers to the Yard Wall Street Journal(July 24, 2015): Abry Partners tops the list of the most sought-after midmarket managers in the secondary market, according to rankings compiled by adviser Setter Capital.... Read more |
| 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(July 23, 2015): The firms were the only ones rated excellent by Setter Capital in its list of 35 most sought-after US mid-market ... Read more |
| Willowridge partner Bego, organizer of annual secondaries dinner, leaves firm PE Hub(July 13, 2015): 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 ... Read more |
| Here are the 35 most sought-after U.S. LBO funds on secondary market PE Hub(July 1, 2015): 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... Read more |
| Setter Capital publishes list of most sought US LBO managers Investment Europe(June 23, 2015): A list of the 35 most sought after US large-LBO managers in the secondaries market has been published by advisory firm Setter Capital.... Read more |
| Secondary buyers hungry for stakes in mid-market buyout funds: survey PE Hub(March 9, 2015): 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... Read more |
| Unveiling the ‘oracle’ of the secondaries market PE Hub(Jan. 28, 2015): 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.... Read more |
| Secondary volume goes through the roof PE Hub(Jan. 22, 2015): 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... Read more |
| Secondaries deal surge sees $49.3bn of deals done in 2014 AltAssets(Jan. 22, 2015): The burgeoning private equity secondaries market had its busiest year in 2014 after dealmakers completed about $49.3bn of transactions, new research from... Read more |
| Setter Capital Secondary Market Estimates $49.3 Billion In 2014 HedgeCo.Net(Jan. 22, 2015): 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 ... Read more |
| Secondaries Investor Setter: deal volume exceeds $49bn Secondaries Investor(Jan. 20, 2015): Private equity secondaries accounted for three-quarters of total activity last year.... Read more |
| Alternatives secondaries volume hit $49.3bn in 2014, says Setter Capital report Investment Europe(Jan. 20, 2015): 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 ... Read more |
| Is this a good time to do a secondary deal? PE Secondaries(Oct. 30, 2014): This should be an all-time record quarter for the secondary industry. I would estimate close to $10 billion of private equity transactio... Read more |
| The secondaries industry’s alluring ‘backwater’ Secondaries Investor(Oct. 17, 2014): 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... Read more |
| Secondaries volume to reach $46bn in 2020 Secondaries Investor(Oct. 15, 2014): The highest expected volume for secondaries in 2020 is $95bn, according to a poll conducted by Setter Capital.... Read more |
| 2014 Projected secondary returns lower, but strong PE Secondaries(Oct. 14, 2014): 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... Read more |
| How high will the secondaries market go? PE Hub(Oct. 13, 2014): 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 ... Read more |
| Secondary PE deals on track to have record year The Deal Pipeline(Aug. 15, 2014): 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... Read more |
| Private equity: second-hand business Financial Times(Aug. 12, 2014): The secondary buyout market is coming of age... Read more |
| New sellers come to market Secondaries Investor(Aug. 11, 2014): Non-traditional secondaries sellers are becoming an increasingly important source of activity, according to Setter Capital.... Read more |
| Dividing data Secondaries Investor(Aug. 8, 2014): It’s that time of year again Read more |
| Secondary market transaction volume jumps in first 6 months — report Pensions & Investments(Aug. 7, 2014): 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 ... Read more |
| Setter Capital reports $22bn volumes in secondary market Investment Europe(Aug. 5, 2014): 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... Read more |
| Setter Capital estimates $22 bln total secondaries volume in first half PE Hub(Aug. 4, 2014): Here it comes again … the second shot across the industry at estimating half-year volume on the hyperactive secondaries market.... Read more |
| Secondary Market Activity Soars FIN Alternatives(Aug. 1, 2014): The secondary market for alternative investments reached new heights in the first half, according to a survey from Setter Capital.... Read more |
| Secondaries market on a tear Real Deals Europe(Aug. 1, 2014): 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... Read more |
| Private Equity Secondaries on Pace for Record Year Wall Street Journal(July 15, 2014): 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.... Read more |
| Understanding the nuances of secondary pricing in private equity AltAssets(July 2, 2014): Most commentators contend generally that secondary pricing across all private equity strategies has risen in the last several years, but the important question remains Read more |
| Setter: Top funds fetch higher prices Secondaries Investor(June 23, 2014): 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... Read more |
| Newer, top-performing funds attract premium secondaries prices PE Hub(June 17, 2014): 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... Read more |
| Most sought-after Asian funds of Q2 2014 Secondaries Investor(June 3, 2014): 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.... Read more |
| View from the secondary market: 25 most sought-after Asia-Pacific funds PE Hub(June 2, 2014): 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... Read more |
| Setter Capital Presents Most Sought After Secondaries Funds Deal Market(May 14, 2014): 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, ... Read more |
| CVC, Apax and Advent most sought-after Euro LBO funds Secondaries Investor(May 13, 2014): The Canadian advisory firm Setter Capital has cited its 40 most sought-after European leveraged buyout funds on the secondaries market.... Read more |
| CVC and Apax most sought-after Europe funds Private Equity International(May 13, 2014): CVC and Apax most sought-after Europe funds according to PEI International.... Read more |
| Setter Capital Ranks Most Popular European Buyout Funds for Secondary Investors Wall Street Journal(May 13, 2014): The managers of the most sought-after European private equity funds on the secondaries market have be... Read more |
| A view from the secondary market: 40 most sought-after European buyout funds PE Hub(May 12, 2014): 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... Read more |
| Sequoia, NEA and Accel most sought-after US VC funds Secondaries Investor(April 15, 2014): The firms top Setter Capital’s new list of the 25 most sought-after US venture capital funds on the secondaries market.... Read more |
| View from the secondary market: Sought-after venture capital funds PE Hub(April 14, 2014): 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, ... Read more |
| ABRY and HIG most sought-after US mid-market funds Secondaries Investor(April 10, 2014): Canadian advisory firm Setter has released its top 50 mid-market LBO funds on the secondaries market.... Read more |
| Brand Names Place High in Setter's Midmarket Liquidity Rankings Dow Jones PE & Venture Capital(April 8, 2014): When it comes to attracting buyers on the secondary market, a brand name may matter more than expected, particularly in the midmarket, accor... Read more |
| Setter Capital increases efficacy of global secondaries platform PE Hub(April 3, 2014): Canadian secondaries advisory and intermediary firm Setter Capital has introduced enhancements to Secondary Link, its search engine and blog for sharing global market in... Read more |
| Bain, BX and ABRY most sought-after buyout stakes Secondaries Investor(March 14, 2014): 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... Read more |
| Bain, BX and ABRY most sought-after stakes Secondaries Investor(March 14, 2014): 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'... Read more |
| Setter Capital – making waves in the global secondary market Setter Capital – making waves in the global secondary market PE Hub(Feb. 7, 2014): This week my colleague Chris Witkowsky, editor of peHUB, wrote about the wide gap in estimates of the size of the “compulsively secretiv... Read more |
| Secondary deal volume controversy and the shadow market PE Hub(Feb. 3, 2014): 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... Read more |
| Real estate secondaries hit $5.3bn in 2013 PERE News(Jan. 14, 2014): More than 14% of all secondaries deals last year were real estate purchases, according to Toronto-based advisory firm Setter Capital.... Read more |
| Hedge fund side pocket secondary market volumes top $1.6bn in 2013 Opalesque(Jan. 13, 2014): 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... Read more |
| Secondary deal volume could increase in first half of 2014 AltAssets(Jan. 7, 2014): 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... Read more |
| Private Equity Braces For Robust Year in Secondary Deals Institutional investor(Jan. 7, 2014): 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... Read more |
| Alternatives secondary market hits $36bn says Setter Capital Investment Europe(Jan. 6, 2014): Setter Capital, the investment adviser on alternative investments, has published data suggesting the secondary market hit a value of $36bn through 2013.... Read more |
| Private equity secondary deal volume totals $36 bln: survey PE Hub(Dec. 23, 2013): 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... Read more |
| Wild West no more Infrastructure Investors(Oct. 9, 2013): The secondaries market has come a long way, as evidenced by Setter Capital’s new online platform. Peter McGrath discusses it with Andy Thomson.... Read more |
| Just how active is the secondary market this year? PE Hub(Sept. 26, 2013): 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... Read more |
| Setter Capital Estimates Secondary Volume Hit $15B in First Half Dow Jones PE & Venture Capital(Sept. 16, 2013): Although many secondary buyers say that deal volume has slowed so far this year compared to 2012, a survey from Setter Capital suggests it... Read more |
| Liquidation model similar to hedge fund side pockets Pensions & Investments(June 10, 2013): 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 ... Read more |
| The Setter 30 Q2 2024 Aug. 12, 2024: Our quarterly listing of the hottest VC companies in the secondary market. Read more |
| Setter Capital Volume Report H1 2024 Aug. 8, 2024: Setter's semi-annual analysis of the secondary market, based on a 31question survey completed by the 130 most active players in the market. Read more |
| The Setter 30 Q4 2023 Feb. 14, 2024: Our quarterly listing of the hottest VC companies in the secondary market. Read more |
| Setter Capital Volume Report FY 2023 Jan. 25, 2024: Setter's semi-annual analysis of the secondary market, based on a 31question survey completed by the 130 most active players in the market. Read more |
| The Setter 30 Q3 2023 Nov. 15, 2023: Our quarterly listing of the hottest VC companies in the secondary market. Read more |
| Setter Capital Volume Report H1 2023 Aug. 3, 2023: Setter's semi-annual analysis of the secondary market, based on a 31question survey completed by the 130 most active players in the market. Read more |
| The Setter 30 Q2 2023 Aug. 3, 2023: Our quarterly listing of the hottest VC companies in the secondary market. Read more |
| Setter 30 Q1 2023 April 13, 2023: Our quarterly listing of the hottest VC companies in the secondary market. Read more |
| Setter Capital Volume Report FY 2022 Feb. 3, 2023: Setter's semi-annual analysis of the secondary market, based on a 31question survey completed by the 130 most active players in the market. Read more |
| The Setter 30 Q4 2022 Jan. 27, 2023: Our quarterly listing of the hottest VC companies in the secondary market. Read more |
| The Setter 30 Q3 2022 Jan. 4, 2023: Our quarterly listing of the hottest VC companies in the secondary market. Read more |
| The Setter 30 Q2 2022 Sept. 1, 2022: Our quarterly listing of the hottest VC companies in the secondary market. Read more |
| Setter Capital Volume Report H1 2022 Aug. 15, 2022: Setter's semi-annual analysis of the secondary market, based on a 31question survey completed by the 130 most active players in the market. Read more |
| The Setter 30 Q1 2022 April 1, 2022: Our quarterly listing of the hottest VC companies in the secondary market. Read more |
| Setter Capital Volume Report FY 2021 Feb. 17, 2022: Setter's semi-annual analysis of the secondary market, based on a 31 question survey completed by the 128 most active players in the market. Read more |
| The Setter 30 Q4 2021 Feb. 1, 2022: Our quarterly listing of the hottest VC companies in the secondary market. Read more |
| Setter Capital Volume Report H1 2021 Aug. 26, 2021: Setter's semi-annual analysis of the secondary market, based on a 31question survey completed by the 131 most active players in the market. Read more |
| The Setter 30 Q1 2021 April 19, 2021: Our quarterly listing of the hottest VC companies in the secondary market. Read more |
| Setter Capital Volume Report FY 2020 Jan. 22, 2021: Setter's semi-annual analysis of the secondary market, based on a 31 question survey completed by the 117 most active players in the market. Read more |
| The 20 Most Sought-After Managers European Large LBO - Q4 2020 Dec. 4, 2020: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 25 Most Sought-After Managers Asia-Pacific Private Equity - Q4 2020 Dec. 4, 2020: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 25 Most Sought-After Managers European Mid-Market LBO - Q4 2020 Dec. 4, 2020: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 25 Most Sought-After Managers Infrastructure - Q4 2020 Dec. 4, 2020: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 25 Most Sought-After Managers Real Estate - Q4 2020 Dec. 4, 2020: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 25 Most Sought-After Managers VC - Q4 2020 Dec. 4, 2020: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 30 Most Sought-After Managers US Middle Market LBO - Q4 2020 Dec. 4, 2020: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 35 Most Sought-After Managers US Large LBO - Q4 2020 Dec. 4, 2020: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The Setter 30 Oct. 14, 2020: Our inaugural listing of the most liquid and highly sought-after pre-IPO companies in the global secondary market. Read more |
| Setter Capital Volume Report H1 2020 July 25, 2020: Setter's semi-annual analysis of the secondary market, based on a 30 question survey completed by the 119 most active players in the market Read more |
| Setter Capital Volume Report FY 2019 Jan. 28, 2020: Setter's semi-annual analysis of the secondary market, based on a 28 question survey completed by the 118 most active players in the market. Read more |
| Setter Capital Volume Report H1 2019 Aug. 22, 2019: Setter's semi-annual analysis of the secondary market, based on a 27 question survey completed by the 121 most active players in the market. Read more |
| Setter Capital Volume Report FY 2018 Jan. 23, 2019: Setter's semi-annual analysis of the secondary market, based on a 27 question survey completed by the 121 most active players in the market. Read more |
| Setter Capital Volume Report H1 2018 Aug. 23, 2018: Setter's semi-annual analysis of the secondary market, based on a 27 question survey completed by the 121 most active players in the market. Read more |
| Setter Capital Volume Report FY 2017 Jan. 24, 2018: To accurately capture the breadth of the secondary market for alternatives, Setter Capital conducted a twenty six question survey of the top secondary buyers. Read more |
| The 20 Most Sought-After Managers European Large LBO - Q3 2017 Nov. 21, 2017: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 20 Most Sought-After Managers European Lower Middle Market LBO - Q3 2017 Nov. 21, 2017: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 20 Most Sought-After Managers US Lower Middle Market LBO - Q3 2017 Nov. 21, 2017: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 25 Most Sought-After Managers Asia-Pacific Private Equity - Q3 2017 Nov. 21, 2017: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 25 Most Sought-After Managers Energy - Q3 2017 Nov. 21, 2017: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 25 Most Sought-After Managers European Mid-Market LBO - Q3 2017 Nov. 21, 2017: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 25 Most Sought-After Managers Infrastructure - Q3 2017 Nov. 21, 2017: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 25 Most Sought-After Managers Real Estate - Q3 2017 Nov. 21, 2017: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 25 Most Sought-After Managers VC - Q3 2017 Nov. 21, 2017: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 30 Most Sought-After Managers US Middle Market LBO - Q3 2017 Nov. 21, 2017: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| The 35 Most Sought-After Managers US Large LBO - Q3 2017 Nov. 21, 2017: Report based on both the Setter Capital Liquidity Rating and SecondaryLink's Popularity Ranking. Read more |
| Setter Capital Volume Report H1 2017 Aug. 3, 2017: Setter's semi-annual analysis of the secondary market, based on a 27 question survey completed by the 121 most active players in the market. Read more |
| Setter Capital Volume Report FY 2016 Feb. 1, 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. Read more |
| Q3 2015 30 Most Sought-After Sept. 16, 2016: The Most Sought-After Manager Rankings are published by Setter Capital, across various types of funds and geographies. Read more |
| H1 2016 Setter Capital Volume Report Aug. 30, 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... Read more |
| Letter for Setter Capital Mr McGrath June 1, 2016: No Description Read more |
| CRS April 19, 2016: CRS Read more |
| Setter Capital Volume Report FY 2015 Feb. 8, 2016: To accurately capture the breadth of the secondary market for alternatives, Setter Capital conducted a twenty six question survey of the top secondary buyers. Read more |
| Q3 2015 Most Sought-After Small US LBO Nov. 23, 2015: Ranks the Most Sought-After Small US LBO managers whose most recent funds are less than 500 million USD. Read more |
| Q3 2015 The 20 Most Sought-After Small Oct. 1, 2015: ranks the Most Sought-After Small Western European LBO Managers whose most recent funds are less than 500 million USD. Read more |
| Setter Capital Volume Report H1 2015 Aug. 13, 2015: To accurately capture the breadth of the secondary market for alternatives, Setter Capital conducted a twenty six question survey of the top secondary buyers. Read more |
| Q2 2015 Most Sought-After 2BB EURO LBO Aug. 6, 2015: Setter Capital has released the 20 Most Sought-After Western European Large LBO Managers on the Secondary Market - Q2 2015. Read more |
| Q2 2015 The 35 Most Sought-After US Mid-Market July 21, 2015: Setter Capital has released the 35 Most Sought-After US Mid-Market LBO Managers on the Secondary Market - Q2 2015. Read more |
| Q2 2015 The 35 Most Sought-After Large US LBO June 22, 2015: Setter Capital has released the 35 Most Sought-After Large US LBO Managers on the Secondary Market - Q2 2015. Read more |
| Setter Volume Challenge Oct. 10, 2014: 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... Read more |
| Setter Capital Volume Report H1 2014 July 23, 2014: To accurately capture the breadth of the secondary market for alternatives, Setter Capital conducted a twenty six question survey of the top secondary buyers. Read more |
| 40 Most Sought after EURO LBO funds May 8, 2014: SecondaryLink has released The 40 Most Sought after Euro LBO funds on the Secondary Market – Q1 2014 Read more |
| 50 Most Sought after US MID-MKT LBO funds March 24, 2014: SecondaryLink has released The 50 Most Sought after US Mid-Market LBO funds on the Secondary Market – Q1 2014 Read more |
| Setter Capital Volume Report 2014 Jan. 20, 2014: To accurately capture the breadth of the secondary market for alternatives, Setter Capital conducted a twenty six question survey of the top secondary buyers. Read more |
| Setter Capital Volume Report 2013 Jan. 2, 2014: To accurately capture the breadth of the secondary market for alternatives, Setter Capital conducted a twenty six question survey of the top secondary buyers. Read more |
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The Setter Sale Process* is customized to maximize sale proceeds, maintain confidentiality, satisfy legal obligations, preserve manager relationships and minimize the seller's expended resources.
