Tailored Liquidity Solutions
Cork Gully’s team offers expert advisory services to funds and managers looking to restructure challenged funds through the secondary market, including end-of-life funds, to create liquidity for both general and limited partners. Our team comprises qualified experts with a broad range of backgrounds, who are familiar with the financial, operational, and regulatory considerations of effective liquidity management and solutions.
We offer a comprehensive range of services to help our clients achieve their desired outcomes. These services include conducting an auction process on behalf of the manager to allow limited partners to sell their interest in the fund. We can also extend the fund’s life to provide sufficient time to sell remaining assets while allowing existing investors to sell their interest in the fund. We can facilitate a transaction that allows existing investors to sell their fund interests while simultaneously providing the manager with capital for new investments and bridging to the next traditional fundraise. We mitigate the risk that the fund will not have sufficient cash to meet its ongoing obligations and ensure that the fund continues to meet its financial and regulatory requirements. We can prepare cash flow forecasting and review of existing forecasts to ensure effective liquidity, stress test key liquidity variables, including market-based factors and organizational-specific considerations, to assess the adequacy of current liquidity provisions and reserves. If necessary, we can wind down the fund completely, thereby relieving the fund manager of any ongoing portfolio management obligation and accelerating the distribution of proceeds to limited partners and the warehousing of illiquid assets.
Cork Gully provides advisory services to general partners and management companies seeking to enhance liquidity for stakeholders. Our team of experts provides advice to stakeholders on the restructuring of funds, underlying assets and partner interests.
We collaborate with managers who want to utilise the secondary market to restructure funds or generate liquidity for limited partners through secondary transactions. We customise each engagement to cater to the specific requirements of the stakeholders. Cork Gully can assist general partners in the sale of minority interests in companies that may be illiquid. We work closely with managers to provide valuation and execution support for challenged and tail-end funds. Our services extend to assisting in the sale of a portfolio of interests in privately-held companies and funds. We also provide support where a portfolio of remaining assets is sold directly to a buyer through a wind-down process, assuming that the buyer takes on the responsibility for managing the assets/portfolio.
Sale of GP Interests
Cork Gully can offer advice to general partners seeking to monetise their interest in a fund or a portion of the management company. We collaborate closely with managers to provide execution support by selling a portion or all of the general partner interest in an existing fund, selling a portion of the management company, and preparing profit share monetisation plans.
Our team works to ensure that we fully understand a managers unique requirements and objectives before tailoring our approach to meet those specific needs. With our support, general partners can expect to receive advice and assistance in achieving their desired outcomes. We can also facilitate the financing needed to acquire the general partner ownership interest in a private equity fund by identifying potential lenders, structuring the financing terms, negotiating the terms of the loan, and managing the transaction process. The financing may include a combination of debt and equity, and may involve various types of financing, such as senior debt, mezzanine debt, and preferred equity. The specific terms of the financing will depend on various factors, such as the size and complexity of the transaction, and the prevailing market conditions.
We can provide advice o the GP on the sale of some or all of the assets in an existing portfolio to a new fund or a group of investors to provide liquidity to the existing limited partners in the fund, while also giving the GP an opportunity to retain or continue managing the assets. Cork Gully can help negotiate with the limited partners to obtain their consent to the transaction allowing the GP to manage their portfolio and provide liquidity to limited partners without having to sell assets in the secondary market or wind down the fund entirely.
Secondary Sale of LP interests
Cork Gully provides advisory services to both institutional and private investors regarding the sale of their interests in closed-ended funds, private debt, single assets, and portfolios in the secondary market. Our extensive experience in special situations allows us to offer insightful guidance to our clients.
We work closely with institutional investors to provide advice on the secondary sale of portfolios of limited partner stakes. Our team also tailors our approach to meet the specific needs of our clients, providing valuation, and execution support as needed. Our services extend to assisting private investors in the sale of their interests in the secondary market, leveraging our expertise in special situations to ensure that our clients receive the best possible outcome. We pride ourselves on providing advice and support to help our clients achieve their desired results.
We bring robust independence to the management of portfolio valuations on behalf of a fund, the limited partner advisory board and limited partners where the fund is to be restructured or sold therefore avoiding a conflict of interest.
We have worked with clients across a broad range of sectors, industries and locations and are able to utilise our broad experience to bring unique insights into liquidity risks.
"We offer expert advisory services to funds and managers looking to restructure challenged funds through the secondary market, including end-of-life funds, to create liquidity for both general and limited partners"