What is the allocation for Evercore Secondaries' Portfolio?

The allocation of Evercore Secondaries' Portfolio, which is indicated as 55% Limited Partners (LP) and 45% General Partners (GP), signifies a balanced approach towards managing investments in private equity secondaries. This structure reflects a strategy that aims to diversify risk while still maintaining a significant exposure to both LPs, who typically invest in funds, and GPs, who manage those funds.

In this context, allocating 55% to LPs demonstrates a stronger focus on the funds that have established track records and existing portfolio companies, which can provide a more stable return profile. The additional 45% to GPs indicates an interest in the management teams that drive these investments, often through direct investments in the funds they manage or through commitments that can yield higher returns, albeit with greater risk.

This allocation suggests a strategic aim to capitalize on the strengths of both LPs and GPs in the secondary market, creating a portfolio that balances potential gains with the relative safety that can be derived from established LPs. This reflects a nuanced understanding of the dynamics within the private equity space.