Morgan Stanley Exec. Predicts Major Growth In Secondaries

Dec 15 2006 | 12:11pm ET

By Hung Tran John Walak

Back in 1997, the secondary market was less viable than it is today, with few firms engaged in it in an “unorganized manner,” recalls John Wolak executive director at Morgan Stanley Alternative Investment Partners. Today, the market is experiencing strong growth with more buyers, sellers and intermediaries.

“Virtually any deal today greater than $25 million in size is being sold through an auction process, which is quite competitive and priced at premiums at asset value,” said Wolak, speaking at a recent conference in New York sponsored by IncreMental Advantage.

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