Argentem Creek Partners (ACP), a US emerging markets-focused investment firm, has partnered with Emerge9 to launch a strategic joint venture focused on connecting non-institutional investors to GP-led private equity investments.
The joint venture will combine Emerge9’s origination and custom fund solutions with ACP’s global relationships and presence across the Middle East, Latin America and Asia.
As part of the joint venture, both firms will collaborate on a set of initiatives aimed at broadening non-institutional investor access to private equity.
GP-led secondary deals represent a growing segment of the PE secondary market, with transaction volume growing from $7bn in 2015 to $51bn in 2023, according to Evercore. Given constrained M&A and IPO markets, a growing number of GPs are providing liquidity to their respective LPs by transferring prized assets into so-called continuation vehicles, funded by a new set of investors. In these transactions, GP’s normally roll most, if not all of their carried interest into the continuation vehicle.
