The Takeaway with Troy Gayeski: Middle market PE secondaries

FireSide: A Podcast Series from FS Investments

Chief Market Strategist Troy A. Gayeski, CFA, shares the key takeaways from his new strategy note, Going for growth: Middle market private equity secondaries.

Troy joins Content Strategist Harrison Beck to examine how middle market PE secondaries offer the potential for growth at a reasonable price. He addresses the potential advantages of the middle market, what makes secondaries attractive, and how middle market private equity, combined with secondaries, may help serve investor needs for growth.
“Middle market private equity may be the definition of growth at a reasonable price. And when we look at investor portfolios, they have very little exposure to this key area for growth going forward.” –Troy A. Gayeski

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פרקים

1. Coming Up... (00:00:00)

2. What is middle market private equity? (00:01:23)

3. Growth at a reasonable price (GARP) (00:03:49)

4. Comparing growth options: Market cap weighted equities (00:06:01)

5. Comparing growth options: Venture capital (00:08:49)

6. Comparing growth options: Large/mega cap private equity (00:11:04)

7. Potential advantages of middle market private equity (00:17:52)

8. Transaction volume in middle market private equity (00:21:39)

9. Lower corporate balance sheet leverage (00:22:40)

10. Clear path to monetization (00:23:53)

11. Performance and growth in the middle market (00:25:47)

12. Introduction to private equity secondaries (00:29:43)

13. The golden age of PE secondaries (00:31:53)

14. Potential advantages of PE secondaries (00:35:03)

15. The takeaway on middle market PE secondaries (00:41:29)