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Bailey McCann, Opalesque New York:
Recent positive trends in the market aren't just good news for investors looking for returns. The recent uptick in overall market conditions is also supporting investors and funds as they look to finish clearing up the lot of bad assets that hurt them in the financial crisis. This trend is a boon for firms like Tullet Prebon, a global brokerage firm with expertise in handling illiquid assets.
"We've seen a lot of illiquid transactions, asset based lending and clearing of side pockets happening lately. It's actually taken much longer than expected, but they are moving through," explains Neil Campbell, Head of Alternative Investments, Tullet Prebon in an interview with Opalesque.
Campbell built Tullet Prebon's hedge fund desk in 2008, during the financial crisis. Since then, he and his staff have been brokering transactions around these illiquid assets. A trend he expects to continue into the near term.
"Businesses are merging and closing down in Europe," he says, noting that those mergers and closures are likely to result in more assets finding their way to secondary markets. Investors can also find returns by investing in secondary funds and markets while the pricing is more ideal.
For a number of years, side pocket vehicles and other illiquid investments have been a sore spot for the investment community. Often hard to describe and unload, investors are pushing for transactions that will allow them to get...................... To view our full article Click here
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