The ongoing novel coronavirus (COVID-19) outbreak continues to affect communities and businesses around the world. EMPEA member, Debevoise & Plimpton has provided this Resource Center which contains checklists, practical references, and current thinking to address industry needs and concerns. As the situation develops with business leaders facing evolving challenges, Debevoise & Plimpton will continue to provide insights across a range of topics.
Private Equity Secondaries Market Adapts to COVID-19
The rapid spread of the COVID-19 coronavirus has dominated headlines and roiled markets so far in 2020. With epidemiologists and economists forecasting coronavirus-related disruptions that may endure for months and possibly much longer, COVID-19 presents significant challenges to private equity for the foreseeable future, in particular in the secondaries market where pricing of fund interests is typically based on historic pre-signing net asset value (NAV) determinations and larger, complex transactions can be subject to a lag of many months between pricing being agreed and final closing occurring.