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Andrew Hawkins

Global Head, Strategic Secondaries
ICG PLC

Andrew works in the strategic secondaries teams at ICG, the global independent leader in mezzanine finance. He leads a team that focuses on leading restructuring and recaptilisation transactions for older private equity funds. He has more than 16 years of experience investing in private equity, and was formerly partner and managing partner at Palamon Capital Partners and Vision Capital Partners respectively. Most recently, he was CEO and founder of NewGlobe Capital Partners.

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Day 2

Tuesday, May 9th, 2017

12:10 INTERVIEW: The rise of PE Fund Restructuring/Recap transactions in Secondaries- An emerging asset class?

The anatomy of a GP-led restructuring transaction (who are the players and how does it work? Role of GP, advisors, LPAC etc);
Why are they so complex and differences from traditional fund portfolio secondaries; How does pricing and the overall risk/reward of these deals differ?
Main challenges/risks to the asset class
What is driving the growing wave of fund restructuring/recap deals (end of life funds, LP liquidity solutions, GP incentives etc)
Is it a fad or is it sustainable?
What type of buyers are emerging and what are implications for LPs and GPs
How should LPs deal with these deals (pitfalls and issues)