M&A daily wrap: Ardian, AutoCanada, Frontier Capital; Abry

Founded in 2001, the company operates across the HR value chain through its advise, implement and outsource business lines.

As continuation vehicles grow in scale and complexity, sponsors face mounting pressure to prove that deals are fair to both selling and rolling investors.

As GP-led secondaries scale to record levels, top investors are flagging a widening gap between trophy assets and weaker deals, even as new financing tools like CFOs further blur the line between sale and securitization.