10.00 - 10.20

PRESENTATION

Investing through GP Led single asset transactions

The GP-led secondary market has witnessed a brisk pace of growth in the past two decades with a flurry of transactions in recent years. In 2021, GP-led secondaries represented 51% of the $135 billion overall secondaries market, a record year in deal volume. Forecasts suggest another banner year in 2022, with deal volume expected to rise as much as 20% year on year. Mercedes Fernández, Portfolio Manager and Partner at AIP Private Markets Secondaries, will discuss the growing opportunity set for General Partner (GP) led deals, spelling out why we believe the sector and the single-asset segment, in particular, are attracting growing investor interest.

Morgan Stanley, a market leader in the U.S., Europe, Asia and emerging markets, has been re-defining the meaning of financial services since our founding in 1935. With our global reach and local presence, our firm brings expertise and resources to help meet clients’ needs and challenges, as well as a commitment to sustainability, innovation, philanthropy, diversity and inclusion. For more than 40 years Morgan Stanley Investment Management (MSIM) has provided client-centric investment and risk-management solutions to a wide range of investors and institutions. Investment strategies span the risk/return spectrum across geographies, investment styles and asset classes, including equity, fixed income, alternatives and private markets. More than 20 investment teams are organized by capability: Solutions & Multi-Asset, Real Assets, Active Fundamental Equity, Private Credit & Equity, Global Fixed Income and Global Liquidity. MSIM was established in 1975 and as of March 31, 2021, MSIM employs 1,184 and managed US$1.4 trillion in assets for its clients.

SPEAKER

Mercedes Fernández

Portfolio Manager and Partner at
AIP Private Markets Secondaries Team
Morgan stanley IM

Mercedes is an Investment Committee member and partner for AIP Private Markets and has 17 years of industry experience. Mercedes’ coverage area includes European investments across private equity and private credit. Prior to joining the firm in 2010, Mercedes was on the investment team at MCH Private Equity, where she was responsible for screening, analyzing and monitoring private equity investments. Previously, she was a consultant at KPMG, where she advised private equity funds and corporations on strategy, mergers and acquisitions and operational issues. Mercedes received a B.S. and MSc. with highest honors in industrial engineering from Universidad Politecnica de Madrid and an M.B.A. with honors in finance and management from the Wharton School of the University of Pennsylvania.

CONTACT

Francisco Gimeno

Executive Director
+34 91 418 10 14
francisco.gimeno@morganstanley.com

FUND INFORMATION

Ashbridge Transformational Secondaries Fund II LP

Italy

2023-2024 HISTORICAL FINDINGS
Asset Allocation – Fixed Income

U.S. Treasuries

No Data Found

Eurozone Government

No Data Found

EM Debt

No Data Found

Investment Grade

No Data Found

High Yield

No Data Found

Inflation-linked

No Data Found

Asset-backed Securities

No Data Found

Convertible Bonds

No Data Found

Green Bonds

No Data Found

Money Market

No Data Found

Italy

2023-2024 HISTORICAL FINDINGS
Asset Allocation – Equities

Global

No Data Found

Global EM

No Data Found

European

No Data Found

US

No Data Found

Japan

No Data Found

Asia ex Japan

No Data Found

Domestic

No Data Found

Frontier

No Data Found

italy

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Alternatives

Private Equity

No Data Found

Private Debt

No Data Found

Hedge Funds

No Data Found

Infrastructure

No Data Found

Real Estate

No Data Found

Collectibles

No Data Found

Italy

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Fixed Income

U.S. Treasuries

No Data Found

Eurozone Government

No Data Found

EM Debt

No Data Found

Investment Grade

No Data Found

High Yield

No Data Found

Convertible Bonds

No Data Found

Italy

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Equities

Global

No Data Found

Global EM

No Data Found

European

No Data Found

US

No Data Found

Japan

No Data Found

Asia ex Japan

No Data Found

Domestic

No Data Found

Frontier

No Data Found

Portugal

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Fixed Income

High Yield

No Data Found

Investment Grade

No Data Found

Convertible Bonds

No Data Found

EM Debt

No Data Found

Eurozone Government

No Data Found

Inflation-linked

No Data Found

Asset-backed Securities

No Data Found

US Treasuries

No Data Found

Portugal

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Equities

Global

No Data Found

Global EM

No Data Found

Asia ex Japan

No Data Found

US

No Data Found

European

No Data Found

Japan

No Data Found

Spain

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Alternatives

Private Equity

No Data Found

Private Debt

No Data Found

Hedge Funds

No Data Found

Infrastructure

No Data Found

Real Estate

No Data Found

Collectibles

No Data Found

Spain

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Fixed Income

U.S. Treasuries

No Data Found

Eurozone Government

No Data Found

EM Debt

No Data Found

Investment Grade

No Data Found

High Yield

No Data Found

Inflation-linked

No Data Found

Asset-backed Securities

No Data Found

Convertible Bonds

No Data Found

Green Bonds

No Data Found

Spain

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Equities

Global

No Data Found

Global EM

No Data Found

European

No Data Found

US

No Data Found

Japan

No Data Found

Asia ex Japan

No Data Found

Domestic

No Data Found

Frontier

No Data Found

United Kingdom

Asset Allocation - Equities - Historical Findings

United Kingdom

Asset Allocation - Equities - Historical Findings

Global

No Data Found

Global EM

No Data Found

Asia ex Japan

No Data Found

US

No Data Found

European

No Data Found

Japan

No Data Found

Frontier

No Data Found

Domestic

No Data Found

PANEL DEBATE II

How to Deal With Sustained Inflation

Steinar Eikeland

Chief Investment Officer
at Industrifinans Kapitalforvaltning

Erik Hilde

Global Head of External Strategies
at Norges Bank Investment Management

Petter Slyngstadli

Head Of Research
at Norne Securities

Leif-Rune Husebye Rein

Chief Investment Officer
at Nordea Life Norway

PANEL DEBATE I

Panel debate I theme title

Steinar Eikeland

Chief Investment Officer
at Industrifinans Kapitalforvaltning

Erik Hilde

Global Head of External Strategies
at Norges Bank Investment Management

Petter Slyngstadli

Head Of Research
at Norne Securities

Leif-Rune Husebye Rein

Chief Investment Officer
at Nordea Life Norway

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