Goldman Sachs launched a secondaries advisory franchise in Europe, the Middle East, and Africa region yesterday.
Reuters broke the news earlier this week, with the appointment of Andrei Brougham, who previously worked part of Rothschild & Co as managing director in its mergers and acquisitions business to lead the efforts in EMEA.
Secondary Advisories
The franchise advises clients on buying, selling, and structuring interests in existing private equity and alternative funds.
As such, secondary advisories are important because they provide essential liquidity, risk management, and portfolio optimisation solutions for investors and private markets involving illiquid assets.
AUM in Illiquid Markets
The move brings benefits to investors looking to break out of illiquid arrangements in mature assets: real estate and infrastructure funds.
Last year, about 1.4% of AUM were forecast to trade on the secondary market, up from a 0.9% average (2014-2024), according to Breakingviews calculations.
Leadership Focus
Brougham will focus on private equity and infrastructure secondaries, with a particular emphasis on continuation vehicles, the bank said.
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