Carmignac's Maxime Carmignac: Why secondaries can help solve a multimillion-dollar question

A 'bit of a no-brainer'

As the private equity world has grown – with assets under management almost quadrupling over the last decade – the debate for businesses over the best ‘exit route’ has intensified.

Protected from the intense scrutiny of public life and focused on long-term value creation tied to company fundamentals, more companies are choosing to remain private for longer. To sell or not to sell? Naturally, the decision over if and when to exit hinges on a myriad of factors. And this debate has deepened in recent years especially as the private equity exit landscape has proved more challenging. We have had choppy (albeit positive over the long-run) public markets, a softer IPO environment, slower M&A activity driven by relatively higher interest rates, and a higher cost of ...