Cebile Capital, the global secondaries advisor and placement agent, has closed a GP-led Continuation Vehicle process for two of Method Advisors’ fund-of-funds vehicles.
Cebile Capital, the global secondaries advisor and placement agent, has closed a GP-led Continuation Vehicle process for two of Method Advisors’ fund-of-funds vehicles. This transaction, worth approximately USD100 million, offers existing investors in Method Advisors’ two fund-of-funds the option to benefit from an early liquidity option at a market-clearing price set by a two-stage competitive auction process and enabled Method to obtain the additional duration necessary to manage the underlying portfolios to their natural exits. A large, dedicated secondaries group is the new investor in both Continuation Funds.
Sunaina Sinha, Managing Partner of Cebile Capital, says: “We are proud to have partnered with one of the leading private equity fund-of-fund managers in the US, Method Advisors, to extend the durations for their two top decile portfolios. This transaction can serve as a valuable case study to fund of funds managers, demonstrating that there are liquidity and duration options available to them through GP-led fund restructurings.”
Chris Welch, Managing Partner of Method Advisors, says: “This GP-led process enabled our long-standing limited partners to access liquidity while enabling us the opportunity to continue to manage our portfolios. We are grateful to Cebile Capital for its complex advisory and structuring expertise to achieve this milestone in the market.”
Kirkland & Ellis served as legal counsel to Method Advisors.
