Baird’s Global Investment Banking Team, led by our GP Solutions Group, partnered with H/Advisors Cicero to conduct 60 in-depth interviews to gather the views and opinions from GPs, limited partners (LPs) and secondary investors (buyers) regarding their experiences with CV deals. Feedback from these interviews serves as the foundation of the resulting report, Navigating the Nuances of Continuation Vehicles, which highlights the most pertinent themes and best practices for CV transactions.
The report validates the core elements of the CV value proposition as a viable alternative to traditional exits: enabling sponsors to address LP liquidity considerations, maintain ownership and future upside for prized assets, extend partnerships with management teams and raise incremental dry powder. Respondents also offer candid responses regarding common issues and challenges of CV processes.
The market research and analysis in this report are designed to help GPs proactively and successfully navigate the nuanced objectives of the different constituencies of CVs and more wholly and confidently pursue this growing market.