The secondary market
In recent years, some investors in private equity have sought to reduce their exposure to the asset class, whether to counter-balance a reduction in the value of other assets (the "denominator factor"), generate liquidity for other core activities, or finance capital calls in other funds. In venture capital in particular, the significant increase in timing between investment and exit and the number of extensions of a fund's life to allow for a full harvest of portfolio value have increased the need of some Limited Partners for alternative exit mechanisms.
As a result, there is today an active secondary market in both ownership interests in funds and investments in underlying portfolios.
Tempo actively advises on the acquisition, management and realization of venture and growth capital investments and the provision of liquidity to asset owners. It has built up considerable expertise in this complex area and is a leading player in the field.