Tom Anthofer spoke on the Secondary Market Day of the event, which took place November 15-18 at The Westin Grand in Paris.

In a discussion of the Direct Secondaries market, Tom and fellow panelists discussed the continued growth of the secondary market within private equity and the underlying causes, such as performance issues within the asset class, the continued liquidity drought for many investors and a steadily increasing seller universe. The discussion also highlighted various structural aspects of the direct secondary market and of direct secondary transactions.

 

In a discussion of the Venture and Growth Capital markets in the US and Europe, Tom and fellow panelists, including LGT Capital Partners, discussed, inter alia, the continued growth of Social Media investments and findings related thereto from both a GP and an LP perspective. Tom explored differences between the US and European markets and relevant valuation frameworks in light of intense activity in Social Media. The panel also explored the future of European Venture and Growth Capital relative to the consolidation that has already taken place in the US market.